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Take Note: The Top 7 Trends & Developments in Construction and Design

Dale Kaprosy

Thought leaders in the surety, insurance and legal professions heard from experts and engaged with each other at the 2018 AGC Surety Bonding and Risk Management Conference, Jan. 28-31, 2018. Oswald’s Design and Construction team joined Risk Managers, Chief Financial Officers and General Counsels from the largest contracting firms, Chief…

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Bonding for Construction Companies

Mark Rader

For construction companies, it is important to have a Surety Broker representing you with the various insurance carriers that write bonds. Most companies can get more bonding capacity by working with someone who knows the business very well. Knowledgeable surety brokers and surety company representatives allow you to learn valuable…

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Should I Change Bonding Agents?

Mark Rader

Surety agents & brokers (same thing) come in all sizes and shapes. What this really means is that the experience and ability of your surety broker is going to be a result of their surety background, experience, and intelligence. Not all surety brokers are the same, just as all financial…

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What is a Surety Bond?

Mark Rader

In simple terms, a surety bond is a third party financial and/or performance guarantee of a contract or other legal obligation between two parties. While there are hundreds of bond types, the most common types are bid bonds, performance bonds, payment bonds, license bonds, estate administrator bonds, and appeal bonds.…

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When Your Surety Surprises You and Says “No”

Mark Rader

It’s usually not the end of the world when your surety company says “no,” but certainly this is a position you should try to avoid.  However, when a surety does surprise you by saying “no” to your bond request, there is a disconnect somewhere between the surety, the broker, the…

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Surety Bonds for the Legal Profession

Mark Rader

The judiciary requires a surety bond to help protect property or money. Some of the most common surety bonds include:   Appeal Bonds (or Supersedeas Bonds)- stop judgment enforcements and guarantee payment when appeals are lost. Attachment Bonds (or Replevin Bonds)- help seize defendants’ property, which plaintiffs can later sell or transfer.…

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The Art of a Surety Deal

Mark Rader

Putting together a surety program can range from a simple project to a complex undertaking, depending on the variables involved.  The key is to be able to identify the specific variables, steps, and level of complexity upfront, so the proper approach can be taken from the outset. The more complex…

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Surety Bonds – A Necessary Evil (Sometimes)

Mark Rader

We might as well admit that many companies look at surety bonds as a “necessary evil.”  This is because it’s a product that usually requires a personal guarantee, and may also impede a business owner from success if bonds cannot be obtained under reasonable terms and conditions. On the flip…

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The Bonding Relationship

Mark Rader

You need to have at least one good bonding relationship, and that relationship should be with your surety broker.  A good surety broker can effectively guide you through what could otherwise be an unwieldy and confusing process. For companies where bonding is critical, you may also want your broker to…

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The First Rule of Bonding

Mark Rader

Without the right surety broker, you are rolling the “bonding dice.”  Worse yet, some people don’t know they are essentially gambling when it comes to their company’s surety bond needs.  Surety bonds are a very specialized non-insurance credit product, and a relatively small niche segment of the entire insurance industry.…

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