Author Archives: Kristine Buchanan

The Benefits of Requiring Subcontractor Bonding

Sponsored Content from Old Republic Surety If a general contractor retains the primary liability for the completion of a project whether subcontractors are bonded or not, what is the big benefit in requiring subs to be bonded? Doesn’t it send the wrong message that the GC does not trust the subs? Why Require Subcontractors To Be Bonded? The answer is ...

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Build More Secure Payment Guarantees at Every Tier of a Project

Sponsored content from Old Republic Surety Dan Pope, Senior Vice President, Old Republic Surety, offers key considerations for preventing payment-guarantee gaps, in his blog “Mind the Gap: Start Early to Guarantee Payment to Subcontractors” on the website of the Construction Financial Management Association. There are numerous reasons why construction payments could get delayed across the various tiers of a construction ...

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Increase Your Bonding Capacity by Growing Your Business

Sponsored Content from Old Republic Surety Posted by Wayne Messick, AFSB Are you ready to grow your business? Maybe you’d like to bid on larger projects. Or the owner of your current job likes your work and wants to hire you for something bigger. How do you get to the next level? It’s not as difficult as you may think ...

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Contractor Capacity: The Oft Neglected Third C

Sponsored Content from Old Republic Surety Posted by Daniel Christianson, AFSB Anyone who has dealt with surety has come across a reference to the three Cs of underwriting: Capital Character Capacity These three criterion have been constants of the surety industry since its inception. Capital is the most commonly discussed and the easiest C to understand. Contactors need to have sufficient ...

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Old Republic Surety Underwrites Unique Modular Housing Project in Honolulu

Sponsored Content Posted by Old Republic Surety The City and County of Honolulu faced a challenge: how to build affordable, low-income housing on an island known for its high construction costs. The solution turned out to be pre-fabricated units manufactured in Canada, shipped to Honolulu and installed by a local contractor. But before construction could begin, the contractor, T. Iida ...

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Contractors: Is Your Internal Record Keeping Helping You or Hurting You?

Sponsored Content from Old Republic SuretyPosted by Wayne Messick, AFSB Let’s face it, the reason you went into construction is because you like being at the job site — not cooped up in an office. So you probably don’t spend as much time as you should on record keeping. You know it’s important to get your accounting right at the ...

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Contractors Must Know Their Contract and Strategize to Avoid Damage Claims

Sponsored Content from Old Republic SuretyPosted by Thomas A. Littlefield When a construction project is delayed, damage claims can result, and fingers are quickly pointed at the contractor to be held accountable for these damages. Planning for all the potential delays that can affect a project is not easy ― especially in today’s unpredictable pandemic environment with its supply chain ...

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Cash Flow: An Important Measure of Your Company’s Health

Sponsored content from Old Republic Surety Posted by Wayne Messick, AFSB The definition of cash flow is pretty straightforward: It’s the money that comes into your business minus the money that goes out. It’s a part of your CPA-prepared financials and is usually shown in a separate cash flow statement. Yet cash flow is more than an accounting exercise. It’s ...

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What Surety Underwriters Review on Your Bond Applications & Contracts

Sponsored content from Old Republic Surety Surety underwriters ask a lot of questions. They do so to fully understand your business to better support your project opportunities. Part of the process is determining you qualify for the size and scope of the projects for which you require bonds. If your organization cannot carry out the construction contract, your surety is ...

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5 Helpful Tips for New Surety Producers

Sponsored Content from Old Republic SuretyPosted by Traci Catalano President Joe Biden’s Infrastructure and Jobs Act that passed in 2021 has opened huge opportunities to construction contractors who have the capacity to help rebuild U.S. infrastructure.  Because government contractors cannot work without surety bonds, those growth opportunities extend to surety producers at independent insurance agencies. Are you ready for more ...

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