“Stay informed about market trends, construction technologies, and project financing options to better evaluate bond requirements. An informed underwriter is not just a gatekeeper but a trusted advisor, guiding contractors […]

The world of surety bonds can be intricate and constantly evolving, regardless of whether you’re a new entrepreneur or an experienced business owner. To help you understand which bond is […]

The start of a new year always comes with company reevaluations. Looking at the previous year’s successes and failures and adjusting operations accordingly. As a contractor, this is crucial for […]

If you are a contractor doing business in the state of California, effective January 1, 2023, there will be a fee increase for contractor license bonds. The bond amount will […]

You must understand the underwriting guidelines when you are looking to get a performance bond. This will help ensure that you qualify for the bond and that the process goes […]

As a contractor, it is no secret that the construction industry is consistently changing and hardships are occurring more often than we would like to admit. Between labor shortages, increased […]

For public building projects, having a surety bond is a requirement. Bonds operate as a sort of insurance for the government, shielding it from project failure or contractor embezzlement. In […]

Financial guarantees for the payment or completion of construction can take the form of cash deposits, payments, surety bonds, or other binding contracts.  Document of credit  Bank commitments  Evidence of […]

Anyone’s financial life must include having good credit because it paves the way for obtaining access to reasonable funding for various purposes. Creditors and lenders view good credit as a […]

Since the start of the COVID-19 pandemic, many contractors have been fighting to stay in business with the odds working against them. Specifically, over the last 12 months, we have […]

Starting a dealership may be difficult and costly, therefore it’s critical to gather the necessary paperwork and select a reputable surety firm to help get you the right MVD Bond […]

When work you’ve accomplished isn’t billed or fees you’ve incurred aren’t paid, this is known as underbilling. Almost every contractor experiences some type of underbilling at some point. However, underbilling […]

  Contractors often have a habit of bidding on projects at the lowest price possible. However, as the bidding process grows more complicated, it’s critical to understand how to win […]

Consider becoming an insurance broker if you want to assist people in finding the best insurance coverage specific to their personal needs. These agents work for a range of insurance […]

As we continue to deal with the economic effects of the COVID-19 pandemic, it’s critical for the construction industry to take proactive steps to safeguard their existing and future building […]

As a business a new business owner, you may not have a clear understanding of the surety bond process and who does what when it comes to helping you secure […]

The mortgage industry is ever-growing and ever-evolving. As it continues to grow, the demand for quality mortgage brokers is also increasing. If you’re a person willing to deal with both […]

The construction industry can be extremely profitable if you know how to run and grow your business successfully. More often than not you will find new construction projects around every […]

Being a motor vehicle dealer is a huge responsibility and requires complete trust from all parties. Customers have faith that the dealer has provided nothing but truthful information about the […]

The entire bonding process from start to finish can be quite intricate. As a business owner, you may find yourself needing one or more surety bonds throughout the life of […]

Contractors get payment and performance bonds for building projects to safeguard various parties from unfulfilled contractual obligations. These bonds are generally required for public building projects, although they can also […]

Becoming a vehicle dealer can be a great career move. To become one, you need to first understand the vehicle industry as a whole and have a clear idea of […]

Are you thinking about getting a freight broker license? If you want to operate as a freight broker you will need to follow the steps to get your freight broker […]

According to a Minneapolis Fed poll conducted in late May, rising building material costs are affecting project demand and earnings in the construction sector. High input prices had a negative […]

What is a Contractor License Bond? Contractor license bonds are surety bonds that contractors must acquire in order to receive a contractor license or permission from the government. Contractor license […]

The Surety Place specializes in contract surety bonds needed for construction projects and beyond. Whether you are just starting out or well-versed in the construction industry requirements, our team can […]

Obtaining surety bonds can be a complicated process for new contractors. After all, how can you be sure the surety will trust you enough to supply the bond you need? […]

Bad credit is so often the black cloud that looms over you for years and years, stopping you from making moves in both your personal and professional life. As a […]

COVID-19 has continued to cause stress within the construction industry and now that the vaccines are widely available, regulations regarding requirements for the vaccine continue to change. It was originally […]

Growing your business or re-growing your business in the year 2021 is already proving to be tough. With the pandemic still affecting our day-to-day lives, as business owners, it is […]

Several questions and concerns come up regarding the renewal process and terminology when the time arrives to renew your surety bond. Within this guide, we have summarized Surtey’s bond renewal […]

The worldwide pandemic Coronavirus Disease 2019 (COVID-19) has put a halt on construction projects. Social distancing, travel restrictions, and quarantines have disrupted supply chains, contractor workforces, and the availability of […]

A Letter From The President: COVID-19 UPDATE as of 03/31/2020 Insurance Services are considered “essential business” to most Stay Orders issued by Federal, State and Local authorities Hope this letter […]

For any business requiring a surety bond, it’s important to find an experienced surety bond agent to help you navigate through the industry. Not all surety agents are created equal, […]

We are so excited to announce that we have been named one of the top-performing surety agencies 2 years in a row by the SBA. The Surety place works hard […]

Performance Bond VS Payment Bond Simply put, a performance bond ensures performance and a payment bond ensures payment. A performance bond is a type of surety bond that guarantees that a principal […]

In North Dakota, a new bill has been established requiring public adjusters to be licensed and have a minimum of $20,000 surety bond. As of recent, the previous allowance of […]

There are over 50,000 surety bond types in the nation and no official or legal way to properly divide them into categories. Surety bonds can be extremely tricky to understand, […]

              We are SO excited to finally announce that we have received an award of Surety Agency of the year from the SBA. “Three […]

PHOENIX, June 26, 2019 /PRNewswire/ — Surety Placement Services, LLC DBA The Surety Place, was awarded national Surety Agency of the year by the SBA for the 2018 fiscal year. According to the Small Business Association, […]

A bid bond acts as insurance to protect the owner or developer in a construction bidding process and is required to bid on a contract. It’s a guarantee that the […]

Q: What is a Performance Bond? A: A performance bond is a type of contract bond that is often obtained in conjunction with a payment bond. A performance bond is a […]

Original Press Release PHOENIX, Feb. 7, 2019 /PRNewswire/ — Surety Placement Services, LLC DBA The Surety Place, has been ranked the top performing bond agency located in Arizona and the Southwest region for  the 2018 fiscal year by […]

Are you thinking about starting a business in the construction and development industry? Have you started to map out exactly what building a business in that industry entails? Is applying […]

The SBA recently announced the first decrease in fees for the Bond Guarantee Program in 12 years. As of October 1, 2018 any bond approved and acquired for the 2019 […]

Performance Bonds are crucial for any construction project. Below is a full explanation of performance bonds and the requirements that come with obtaining one. To jumpstart your performance bond application, […]