When you’re starting a business, you may think about getting insurance or a surety bond. Both types of coverage protect your business from loss. What’s the difference between these two options and which one should you get? A surety bond and an insurance policy are two different types of risk management tools that small businesses […]
The bonded title process is an extremely valuable alternative to traditional vehicle titling that can be used in most states. If you are looking to title your vehicle, but find that you are missing the prior title or other evidence of ownership, you may be able to obtain a vehicle title using the bonded title […]
Security deposits and surety bonds are both financial instruments that businesses use to protect against loss. Both can be effective safeguards for a business, but they have different uses and implications. With a security deposit, you put money upfront with the intention of recovering it at a later date if something goes wrong. In contrast, […]
Surety bonds are financial instruments that help minimize the risk of failure for companies and individuals involved in contractual agreements. They do this by requiring the third party to guarantee certain obligations can be fulfilled. If an agreement fails, the surety company steps in to cover the expense. Operating as an insurer, surety companies underwrite […]
A corporate bond is a debt security that is issued by a corporation. It is used to raise capital for the company, which needs money to finance projects, buy assets, or just expand its business. A corporate bond has a maturity date at which point it will be repaid with interest payments. The borrower must […]
The demanding nature of the nursing assistant profession requires workers to be able to handle stressful situations while remaining compassionate and empathetic. As such, being a certified nursing assistant (CNA) comes with its own set of challenges. This is because CNAs need to meet a number of stringent standards before they can practice their profession. […]
A public official surety bond is an agreement between three parties: the principal, the obligee, and the surety. The principal is any individual or company who stands as a representative of a public agency. The obligee is another person or organization that has some sort of claim towards this principal. Lastly, the surety acts as […]
Businesses need surety bonds to prove their trustworthiness and secure financing or contracts. A surety bond is a financial guarantee that protects the principal from financial loss in case of negligence, breach of contract, or failure to perform. Businesses may hesitate to get a surety bond because they think it’s too expensive, unnecessary, or something […]
The performance bond is a type of surety bond that guarantees the contractor’s performance in accordance with the conditions of their contract. It is also known as a construction performance bond, and it is required for most construction projects. Performance Bond The performance bond will be issued by a surety company, which means that if […]
Video transcript So, can a surety bond be extended after a bankruptcy? There’s an interesting case. You’re working your way through the courts. About a surety bond that was issued by a company that’s involved in a bankruptcy. And the legal question at hand is whether it is executory of the contract for surety. And […]
