Read the latest news regarding Commercial, License, Permit, Contract, Court and Fidelity Surety Bonds, and how upcoming changes will affect your business. Check out our glossary page for more information on Surety Bond terminology.
Key Takeaways A contractor’s bond isn’t one price model, since license bonds carry a flat annual premium while performance and payment bonds price off the total contract value. License bond amounts vary significantly by state and even by city or county, so it pays to confirm requirements in every jurisdiction where you work. Performance and … Continue reading “A Straightforward Guide to Contractor Bonds: What They Cover and How Much They Cost”
Read MoreA home improvement license is often a separate, distinct requirement from a general contractor license, even in states where you already hold one. Licensing requirements vary by state and often by city or county on top of that, so the same type of project can trigger different rules depending on where it’s performed. A surety … Continue reading “Home Improvement Licenses and Bonding: What Contractors Need to Know”
Read MoreKey Takeaways A data center construction bond is a performance, payment, or bid bond that guarantees a contractor completes a data center project and pays its subcontractors. Prequalification for hyperscale subcontractors now commonly starts at $10 million or more in bonding capacity per project. Sureties are underwriting data center work more strictly, weighing financial documentation, … Continue reading “Data Center Construction Bonds: How AI Infrastructure Is Changing Requirements”
Read MoreKey Takeaways A good surety bond partner is properly licensed, works with multiple A-rated carriers, and treats hard-to-place risk as a problem to solve rather than a reason to decline. A broker who works with both direct clients and referring agents should be able to explain clearly how they keep those relationships separate, so ask … Continue reading “Surety Bond Brokers and Programs: 6 Tips to Find the Right Partner”
Read MoreKey Takeaways A bid bond guarantees a contractor will honor its bid and secure the required performance and payment bonds if awarded the project. A bid guarantee is only required under FAR Part 28 when a performance bond or performance and payment bond will also be required, tying all three bonds to the same federal … Continue reading “How Bid, Performance, and Payment Bonds Work Together on a Single Project”
Read MoreBy definition, Mortgage Broker Bond (also known as Finance Lender Broker Bonds/ Mortgage Lender Bonds) is form of insurance that protects a customer from illegal or unethical activities on the part of the mortgage broker.
Read MoreKey Takeaways The SBA guarantees a percentage of every SBG program bond to the surety, reducing the surety’s exposure enough to approve contractors who can’t qualify through standard markets. In fiscal year 2025, the SBG program backed a record $10.6 billion in small business surety bonds and supported more than 2,200 contractors. The SBA raised … Continue reading “The SBA Surety Bond Guarantee Program: A Guide for Small Businesses”
Read MoreKey Takeaways Performance and payment bonds typically cost 1% to 3% of the contract value for well-qualified contractors, though flat rates for credit-challenged applicants can push that closer to 2% or higher, plus an additional fee if SBA backing is involved. The Miller Act’s operative threshold for federal construction contracts is $150,000, not the $100,000 … Continue reading “Performance and Payment Bonds: Costs, Uses, and How to Calculate Them”
Read MoreWhen applying for your Florida Motor Vehicle Dealer Bonds, you’ll need to first decide which type of Florida Motor Vehicle Dealer Bonds you’ll need.
Read MoreYou’ve probably seen it dozens of times, whether on a contractor’s truck door, in a vendor profile, or buried in a licensing requirement you didn’t expect. “Licensed, bonded, and insured.” Three words that get used together constantly but rarely get explained separately. For most people, “bonded” is the one that doesn’t quite land. To ensure … Continue reading “What Does It Mean to Be “Bonded”?”
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