Surety vs. Insurance in Contract Surety
Surety bonds and insurance may seem similar and come from similar companies, but they are not the same thing, especially in contract surety. With Colonial Surety, contractors are essentially able to establish a line of…
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Pre-Bid Due Diligence is a Key for Contractors
Evaluating subcontractors and material distributors in a construction project while having clear, quality contracts can be the difference between making profits or suffering a loss. That’s why it’s so important for contractors to do due…
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New Union City Construction Bonding Rules In Place
Union City, New Jersey has enacted a new resolution at its recent Board of Commissioners meeting, changing the type of bonds issued by the city to construction companies. The city is now requiring performance bonds;…
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Joint Ventures Let Companies Share Bonding Responsibility
Joint ventures are surely more complicated than just taking on a project yourself. But utilizing the skills and aptitude of a joint venture partner can provide great benefit while also mitigating your company’s risk. As…
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Key Provisions in School Construction Contracts
Not every school construction project can go 100% swimmingly. Some are going to have delays or errors or go over budget. And the best way to guard against these roadblocks in school construction is a…
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Appeal Bond Requirements Vary By State
While Federal Rule of Civil Procedure 62 provides the general rule for supersedeas bonds in federal courts, many states have adopted and reformed their appeal bond statutes to help defendants more easily secure their right…
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New York Guardianship Fiduciary Bonds
In New York, a guardian may have to purchase a court ordered guardianship fiduciary bond to protect the person who needs a guardian, not the guardian him or herself. This bond ensures that the ward…
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New Musk Digger Could Revolutionize Construction
Elon Musk, founder of Boring Co., stated on Twitter that he is about a month away from presenting the Line-Storm, the company’s new tunnel boring machine (TBM). While current technology allows about ten minutes per…
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How to Open a Car Dealership in New York
It takes a lot to open a vehicle dealership in New York. It’s not as simple as just buying a lot and placing cars for sale on it. To apply to be a retail dealer…
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