contract bond

New Jersey Home Improvement Contractor and Home Elevation Contractor License Bond

New Jersey Home Improvement Contractor and Home Elevation Contractor License Bond

contract bond, contractor license bond / By

New Jersey Home Improvement Contractor and Home Elevation Contractor License Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain a Home Improvement Contractor and Home Elevation Contractor License bond. At a Glance: Bond Amount: Based on the typical scale of projects the contractor works on. $10,000 Bond: For …

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BondExchange Automates the SBA Surety Program

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BondExchange Automates the SBA Surety Program The Small Business Administration’s (SBA) Surety Bond Guarantee Program (SBG program) has helped countless up-and-coming contractors secure bonds they otherwise would not qualify for. However, obtaining these bonds is often a time-consuming process that causes headaches for agents and can lead to contractors missing out on bids. With this …

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BondExchange Automates Contract Surety

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BondExchange Automates Contract Surety   Contract bonds account for the majority of surety bond premiums written, provide agents with significant cross-selling opportunities, and can generate large commission checks. However, obtaining a quote on these bonds has always been mired by the constant back-and-forth needed to collect underwriting information. And while we made it our mission …

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South Carolina SCDOT Performance/Payment Bond

contract bond / By

South Carolina SCDOT Performance/Payment Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain a South Carolina SCDOT Performance/Payment bond. At a Glance: Lowest Cost: 1% of the bond amount Bond Amount:  Performance Bond: 100% of the contract amount Payment Bond: 50% of the contract amount Who Needs it: Contractors …

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Contract Bond Underwriting

Contract Bond Underwriting: A Guide for Agents

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Contract Bond Underwriting: A Guide for Agents January 12, 2022 Contract bonds are an important surety bond class that contractors purchase when bidding on or entering into a contract with a project owner. The 1935 Miller Act requires contractors to become bonded on all federally funded projects costing $100,000 or more, and many states have …

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How Escalation Clauses Protect Your Contractor Customers

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How Escalation Clauses Protect Your Contractor Customers November 16, 2021   The cost of construction materials is rapidly increasing, causing exacerbation among both contractors and consumers. Contractors are struggling to secure the supplies needed for jobs, and the materials they are able to obtain are often so expensive that many contractors are left shaking their …

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Supply Bond

Supply Bonds

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Supply Bonds: A Comprehensive Guide For Insurance Agents This guide provides information for insurance agents to help their customers obtain Supply Bonds What is a Supply Bond? Supply bonds are surety bonds that material vendors must purchase when providing materials to builders for a construction project. Supply bonds are a type of contract bond that …

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