Our Blog - Surety Matters

Over or underbilling by a contractor can be a big problem for obtaining your bid and performance bonds from your surety bonding company. According to generally accepted accounting principals, contractors should report earnings based on the percentage…
Read Moreabout When Contractors Over or Underbill

A Performance Bond has ensured that no additional construction costs will incur despite a delay caused by a defaulting contractor working on a Reynoldsburg, Ohio fire station. A new Truro Township fire station was set…
Read Moreabout Surety Bond Ensures No Added Construction Costs Despite Contractor Default

According to the Associated Builders and Contractors, there were nearly 7 million open construction jobs in the United States as of July 2018. The biggest reason for the shortage is a lack of skilled construction…
Read Moreabout Construction Labor Shortage Risks Performance

It’s extremely difficult for construction projects to come in under budget. Poor project management may be one reason for the error while unforeseeable circumstances may be another. But one of the most common causes of…
Read Moreabout Incorrect Project Estimates Cause Construction Cost Overrun

With much global infrastructure needing to be replaced in first world countries such as the United States, the global surety market is expected to grow by 7% per year up to the year 2025. There are going…
Read Moreabout Massive Surety Industry Growth Expected by 2025

Our Partnership Account has helped streamline the bonding and insurance process for industry associations and their members. The Partnership Account is a business arrangement between Colonial Surety and industry associations that can help generate revenue…
Read Moreabout Benefits of the Partnership Account for Associations

Using a composite steel frame that is rebar free, The Erection Co., finished topping out its 850 square foot Rainier Square Tower in Seattle, Washington in just ten months. The building is scheduled for completion…
Read Moreabout Rebar Free Design Allows Contractor to Top Out Building in 10 Months

Design plans can cause a contractor’s project cost to go over budget all by themselves. Even if proper time and resources are spent on estimating the scope of the project as well as its cost…
Read Moreabout Project Design Problems Cause Cost Overrun

Contractors and construction companies have decried the lack of skilled workers available to them, even as the United States goes through a construction boom. If there are fewer skilled workers than ever before with more…
Read Moreabout Technology Fills Construction Skills Gap