Our Blog - Surety Matters

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…
Read Moreabout Surety vs. Insurance in Contract Surety

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…
Read Moreabout Pre-Bid Due Diligence is a Key for Contractors

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;…
Read Moreabout New Union City Construction Bonding Rules In Place

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…
Read Moreabout Joint Ventures Let Companies Share Bonding Responsibility

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…
Read Moreabout Key Provisions in School Construction Contracts

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…
Read Moreabout New Musk Digger Could Revolutionize Construction

Construction is an expensive and risky business where there is the danger of contractors not being able to undertake the projects at the amounts they bid. There’s a second area of concern too, as payment…
Read Moreabout Why do Contract Surety Bonds Matter in Construction?

The global surety market is expected to grow to over $28 billion by the year 2027, up from $15.33 billion in 2018. The growth of nearly 100% is expected due to the imminent replacement of…
Read Moreabout Surety Industry to Nearly Double in Next Decade Due to Contract Surety

Federal construction contracts over $150,000 requiring payment and performance bonds should not be a surprise to federal construction contractors. But what happens when a federal contract over $150,000 is ambiguous as to whether it’s specifically…
Read Moreabout Federal Contracts Without Bonding Requirements May Still Require Bonds