Sponsored Content

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

Posted by Arthur Sonneland Sponsored Content from Old Republic Surety No one wins — the principal, the obligee or the surety — when a principal is terminated on a bonded project. A termination will generally require the surety to step in and 1) find another contractor to complete the project, 2) complete the project itself or 3) offer a financial ...

Sponsored Content from Old Republic SuretyPosted by Lisa Frasier Identifying potential problems in advance allows all parties to plan and act daily with a risk-avoidance mindset. Principals have a lot of control over surety losses. Adequate preparation and consistent follow-through will help prevent losses. Lisa Frasier, VP for claims at Old Republic Surety, recently wrote on NASBP’s Pipeline page about key indicators ...