Current News

The Seven Deadly Sins of the Principal

How to take seriously the role of character in assessing the risk assocated with issuing a bond on behalf of a contractor.  For more, go to the summer issue of Surety Bond Quarterly

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Be Guaranteed to Succeed

WHAT IS YOUR answer when an owner, contractor, or lender asks why surety is important? Instead of launching into a detailed technical explanation involving contracts, risks, and performance, try this response: “Surety ensures project—and personal—success.” For more, go to the fall issue of Surety Bond Quarterly.

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Building Your Personal Brand Can Give You Powerful Results

PEOPLE DO BUSINESS with people and brands that they know, like, and trust. This simple, age-old sales principle still drives our decisions—from the car we drive to the laundry detergent we use to the bank we use to the surety company we do business with. For more, go to the fall issue of Surety.

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Mechanics’ Lien Discharge Bonds—The Substitutes of the Surety World

AS KIDS IN school, just about everyone loved substitute teacher days. They typically meant a departure from the daily routine and a reprieve from the normal class rules. Substitutes meant a little extra time in PE or watching videos. Sometimes, they meant relief in the form of extra time to study for an exam, or to complete an otherwise late assignment. ...

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Potential Pitfalls Under the Contract Disputes Act

THE CONTRACT DISPUTES ACT (CDA) governs monetary and non-monetary disputes arising out of contracts or implied-in-fact contracts between the federal government and any party to a government contract (contractor). Because the CDA is an exclusive remedy, it is important that contractors and surety professionals be wary of the many pitfalls that may be encountered by a contractor seeking to assert a ...

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Know the Fundamentals of Contractor Financial Statement Analysis, Part 2

THIS ARTICLE HIGHLIGHTS a contractor’s income statement and key disclosures that should be included in a contractor’s financial statements. When analyzing a contractor’s income statement, there are a few items of significance that should be noted. Regarding contract revenues, cost, and gross profit, ideally there will be a breakdown of the types of construction costs (materials, subcontracts, equipment, etc.) either on ...

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2018 NASBP Resource Directory

The NASBP Resource Directory, which is published annually in the fall issue of NASBP’s Surety Bond Quarterly magazine, offers a valuable listing of NASBP specialist firms that help construction and other businesses qualify for and maintain surety credit. The NASBP Resource Directory lists the NASBP membership in three categories and geographically. For more, go to the fall issue of Surety Bond Quarterly.

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