Escrow-Funds Administration is a tool used by bonding companies to mitigate the risk on Performance and Payment Bonds. This risk mitigation tool allows bonding companies to write bonds that Contractors might not otherwise qualify for.
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How do bond companies calculate premiums for Contract Bonds? Learn about it now!
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If you are new to bonding or only occasionally require bonds and you’ve been limited to obtaining bonds from the small, credit based programs (i.e. CNA Fast Track or Liberty Mutual’s Quick Bond) and you need to move up to larger bonds (i.e. above $400,000) … well you’ve come to the right place.
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Let’s get started with a quick explanation of Working Capital, what it is and how it works!
Read MoreAs a condition of issuing a bond, bonding companies all have an absolute requirement that the business and its owners sign an indemnity agreement. There are three elements to the Indemnity required by Bonding Companies, Business, Personal and Spousal. Here is why indemnity is required:
Read MoreThis is a question we hear all the time and is often a point of contention or confusion. Spousal indemnity, except in certain rare circumstances, is an absolute requirement to obtain bonding. It is fair to ask why. However, it is important to ask, why do bonding companies require indemnity in the first place?
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