Our Blog - Surety Matters

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

Construction projects and contract surety come bundled with an assortment of risks, ranging from inability to meet deadlines to poor workmanship to workplace injuries. But one of the biggest risks of a construction project isn’t…
Read Moreabout Funds Control in Contract Surety

The indemnity agreement is the foundation of the surety bond. It’s what separates surety from insurance: the agreement functions as a mechanism to have the principal repay the surety for any claims paid out to…
Read Moreabout Collateral Security: The Surety’s Power

It’s tough to come up with an overarching description of the contract surety industry. Like the insurance industry its products so resemble, the industry is cyclical. The industry also has a long tail, meaning that a…
Read Moreabout How the Contract Surety Industry Functions

When you try to purchase a bid or performance bond, it has to go into “underwriting” before you can actually receive your bond. So what exactly is contract surety underwriting and what goes into the…
Read Moreabout What is Contract Surety Underwriting?

As the construction industry has rebounded since 2008 and continued to grow to this day, the biggest concern in the industry is finding dependable, qualified resources, specifically subcontractors, to work with on new and ongoing…
Read Moreabout How to Make Sure Your Subcontractors Finish Their Work