Author Archives: Kristine Buchanan

Key Items in Your Construction Contract – Damages for Delay

Sponsored Content from Old Republic Surety Posted by Kelly Kimmel There is a saying in the construction surety world: “Contract is king.” If your contract and bonds end up in a litigation setting, courts tend to hold the surety to the contract over the bond forms. Performance and payment bonds, by their nature, carry out the terms of a contract and ...

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Why the Full Surety Team Matters

Sponsored Content from Old Republic Surety Posted by Beth Harbeck The internal workings of the surety make or break agent experience. You know the situation: marketing comes in, does a great presentation, and ratchets up the energy level. The desired result occurs, and bond agents commit to increasing production; then, they enter the underwriting process and… How many agents have ...

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Lessons from the Eclipse: Contractors need not tremble at indemnity agreements

Sponsored Content from Old Republic Surety Posted by Greg Thraikill A narrow 60-mile-wide path across the Unites States from Texas to Maine will witness a total eclipse of the sun on April 8, 2024. Solar eclipses are visible somewhere on Earth once every 18 months, yet witnessing a total eclipse is rare. “A total eclipse happens at any given station ...

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Facts About Probate: Administrator or Executor Bonds

Sponsored Content from Old Republic SuretyPosted by Beth Harbeck Settling wills and estates is often a straightforward process. But in some circumstances, the probate court may require the fiduciary to obtain an executor or administrator bond. An administrator executor, fiduciary, or personal representative bond is a type of court bond required to safeguard the estate and ensure that the wishes ...

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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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