What are the Three C’s of Surety?
The three C’s of surety are, Character, Capacity, and Capital. Regarding surety underwriting, Character refers to the moral qualities unique to an individual or entity. Capacity refers to the capability of an individual or entity and Capital refers to the financial...
Can I Witness Myself?
Witnessing Bonds and Bond Applications Not all applications and bonds need to be witnessed, but if you have a document that requires witnessing, this signature provides evidentiary support in case there is a dispute about who signed. Generally, a witness must be a...
Looking for more Cashflow at very low cost?
Do you have clients holding Retainage on your contracts? Release of Retainage Bonds can be a solution to help get your retainage released early and increase working capital in your company. These bonds can be written at the start of a contract, in the middle of a job...
Important information for all small businesses
CARES Act Payroll Protection Program, Assistance for Small Business during COVID-19. Surety companies and underwriters will view your participation in this program very favorably and we strongly encourage you to apply. This program will provide “loans” to small...
Integrity Surety is Open and Ready to Serve You
We are here for you issuing bonds, just as we’ve always been. The safety of our employees, community, and customers is our primary concern. We are taking several measures to ensure we manage to safely get through the current civic health situation while...
Why do we ask for personal and spousal indemnity?
Great explanation, by Old Republic Surety, as to why you are asked to sign an indemnity agreement by a surety and why your spouse is required to sign. "Personal Indemnity: ‘What? You Want My Spouse to Sign?"
How Do I Increase My Bonding Capacity?
Derived from NASBP’s Answers to 51 Questions Small Contractors Ask About Bonding Like bank credit, bonding is mainly dependent on strong financials and adequate liquidity for a contractor to take on construction projects. Bonding capacity is the maximum amount of...
Access to Capital, Financing for Small Business Event
In September, Kara, among others, spoke about Bonding and Banking Relationships at the Northwest Small Business Transportation Resource Center (NW SBTRC), Sound Transit, and Minority Business Development Agency (MBDA) Business Center. You can find pictures and...
Why should I verify a bond and how can I do so?
If the Principal (the one purchasing the bond) fails to perform as promised, the surety pays any losses and damages that occur. Without the surety, or if the surety in question is not certified to write surety bonds in said state, the public security and consumer...
What is a Letter of Bondability?
A Letter of Bondability, also known as a Good Guy letter or Sunshine Letter, has been around for a long time. Over the years, these letters have become stricter on what is required. In the past, agents would be able to prepare this letter on their own letterhead....