The ProSure Group Info Center

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.

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Surety Bond Collateral Requirements

June 10, 2022

In order to qualify for surety bond coverage, individuals or firms may need to put up collateral. Many people may be surprised to find that collateral can become a vital part of the surety bond process.

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What Is a General Indemnity Agreement & Why Do I Need One?

April 4, 2022

A General Indemnity Agreement, also called a GIA, is a signed contract between the surety company, the obligee, and the principal that outlines an agreement between the three parties. These protect the surety from loss and expenses following

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Comprehensive List of Items Needed to Establish a Surety Relationship

July 10, 2017

Establishing a surety relationship is not something that primarily happens overnight. During the initial phase of underwriting, a surety company will require an extraordinary amount of information from the construction company and its owners

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Surety Bond Premium Financing

June 27, 2017

The surety bond premium is the amount of money that is paid to a surety company in order for the surety company to provide a surety bond guarantee. The premium is often called the rate. The rate that is paid for a bond can range from lower than 1% up to 15% or more of the total bond amount.

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Express Surety Bond Program

June 8, 2017

The Express Surety Bond Program is a quick and simple way for small and emerging contractors to secure bonding. The program provides bonding support for contractors needing bid bonds, performance bonds & payment bonds, maintenance bonds, and supply bonds.

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Conditional Payment Bond Trap

February 28, 2017

Payment bonds and liens are typically established to ensure that the general contractor and subcontractors are guaranteed to receive proper compensation.

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Renewal Reminder: Florida Auto Dealer Bonds are Now Renewing

January 30, 2017

Florida Motor Vehicle Dealer Surety Bonds must be renewed by May 1st, 2017.

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Bad Credit Surety Bonds

December 12, 2016

Applying for a surety bond with low credit is the same as applying for a surety bond with high credit. The only differences being the cost of the bond and the ease of placing the bond.

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Why is so much Private Information Required to be Bonded?

September 8, 2016

For those who are dealing with obtaining their first surety bond, it is frequently stunning and disconcerting the amount of detailed private information that is asked for.

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The Miller Act

September 8, 2016

The Miller Act, originally passed in 1935, is the federal law that requires contract surety bonds on federal construction projects with contract values equal to or greater than $150,000. The Act requires that contractors working on federal projects must post two bonds: a payment bond and a performance bond.

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