by Sierra Maine | Feb 24, 2022 | Uncategorized
Financial Statements Explained As a Contractor or other entity needing a Surety Bond Program, you’re likely being asked to provide Financial Statements. This may be confusing, since you were able to easily buy $1,000,000 of Insurance without any Financial...
by Sierra Maine | Jan 20, 2022 | Uncategorized
The three parties to a surety contract are the surety company, the principal, and the obligee. Surety Our first party is the Surety. In the United States, corporate surety companies are typically insurance companies. They underwrite the principal and obligation to see...
by Sierra Maine | Jan 6, 2022 | Uncategorized
Assume you are an insurance producer, and your primary focus is selling insurance products. When you get a call from a client about a surety bond, it may cause a panic. Surety bonds are so different from insurance that many insurance producers surrender, and don’t...
by Cameron Huntsucker | Aug 24, 2020 | Uncategorized
Or: Since a Surety bond is vastly different from an Insurance policy, so is the relationship that produces such. Diving deeper into the Three Cs of surety from our last post, let’s look at the Character component, specifically the Principal’s relationship with the...
by Kara Skinner | May 14, 2020 | Uncategorized
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...
