Author Archives: Kristine Buchanan

Surety Bond or Letter of Credit: What’s the Difference?

SPONSORED CONTENT FROM OLD REPUBLIC SURETY Posted by Scot Albrinck, AFSB Surety bonds and letters of credit (LOCs) both provide risk management for construction or development projects. To know which is appropriate to use, it helps to understand their differences. A surety bond is a three-party agreement among: The principal, who is the primary party who’ll perform the work (i.e., the obligation).The ...

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Lessons from the Field: Why Business Continuity Planning Is Essential

SPONSORED CONTENT FROM OLD REPUBLIC SURETY Posted by Wayne Messick, AFSB Like it or not, ownership and management changes are a certainty in construction. According to FMI, every construction company that isn’t publicly traded will go through an ownership transition — usually every 25 to 30 years. With baby-boomer retirements on the rise, those changes are occurring with greater frequency. A ...

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Expect the Unexpected: The Importance of a Solid Continuity Plan

SPONSORED CONTENT FROM OLD REPUBLIC SURETY By Scot Albrinck, AFSB Growing up in a family that owned an electrical contracting business, I was always surrounded by a strong work ethic and dedication to the business. While my role was focused on pulling wire, bolting on stadium light pegs in the middle of winter, and sweeping floors, the heartbeat of the ...

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