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.
Contractors navigating their first bonded project often assume a surety bond works something like a loan, with a bonding company fronting money they’ll pay back over time. It’s an understandable assumption. Both involve financial commitments, both require an application and approval process, and both can determine whether a contractor gets the job. The similarity ends … Continue reading “Is a Surety Bond a Loan? How Bonding and Financing Actually Work”
Read MoreYou land a bid on the biggest project your company has ever pursued. The contract requires a performance bond, so you contact a surety agency, start the application, and submit the financials you have on hand. A week later, the underwriter comes back with questions, requests documentation you don’t have, and the process stalls. The … Continue reading “Why CPA-Prepared Financials Matter in Construction Bonding”
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