Water utilities and the electric grid are both moving through parallel investment cycles: aging systems, rising demand, and a new wave of federal and private capital. Funding announcements at this […]

“For Public Work Bonding, Government Experience Matters: First-time government contractors face a learning curve that financials don’t capture. Federal progress payments, 30-45 day payment cycles post-approval, certified payroll, and retainage […]

“Subcontractor bond risk lives in the details: multi-tier exposure, trade replaceability, and continuity of protection. Require transparency into lower-tier contracting. Underwrite the continuity of payment protection, not just the subcontractor’s […]

  “Conduct annual bond line reviews for all clients, ideally at fiscal year end when fresh financials are available. These reviews ensure program structure matches operational capacity and current project […]

To avoid bonding delays during summer’s busy construction months, contractors should take a series of proactive, strategic steps. These actions not only speed up the bonding process but also strengthen your […]

How to Navigate Surety Bonds During Peak Construction Season When the temperatures rise, so does the pace of construction, leading to a surge in project bids, tighter timelines, and increased […]

Understanding the Critical Role of Subcontractor Bonding in Construction In the dynamic world of construction, managing risk is paramount. For general contractors (GCs) and subcontractors alike, understanding the intricacies of […]

“Freight Broker bonds have been considered “harder-to-place” risk for many years. Please consider their industry experience, financial stability and claim history before submitting to surety markets. The Surety Place is […]

“It’s crucial for underwriters to be aware that civil or probate court bonds may have unique renewal requirements, as the duration of the bond is often tied to the length […]

“Finding the right Surety bond program that fits your clients’ needs can be challenging. Take into consideration the largest projects they have completed in the past 5 years, and size […]

The Small Business Administration (SBA) recently announced a milestone change in its Surety Bond Guarantee Program (SBG), marking the first adjustment in statutory contract limits since 2013. Effective March 18, […]

Court Bond Underwriting Tips: Court bonds can be complex; understanding the specific court’s requirements is key. For example, in federal courts, a bond may be required for the cost of […]

“Improvement Bonds typically cannot be cancelled by the surety and must be released by the Obligee. Once the work is complete the Obligee must provide verification the bond is no […]

“Warranty bonds, commonly known as maintenance bonds, covers workmanship warranties and specifically excludes coverage for warranties provided by the contractor’s suppliers and manufacturers which are transferred directly to the owner […]

“Annual underwriting updates for Surety contract accounts are typically performed within 3 months of your client’s Fiscal Year End (FYE). It’s a busy time of year for CPA’s since 12.31 […]

“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 […]

“Holiday Season can be extremely busy for contractors. Be sure to give them plenty of notice for any renewals, bond requirements, close out requests, and new underwriting.” – Surety Place […]

“The best ways to keep your credit scores from dropping include paying your bills on time, avoiding frequent “hard credit” checks, refraining from signing up for multiple credit cards merely […]

“Whether you’re considered low bidder or high bidder, it’s always good practice to get the bid results submitted to your Surety agent. If low, the surety will require the bid […]

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 […]

Surety bonds are becoming more and more necessary for private development initiatives. Bonds operate as a sort of security for the project owner, shielding them from project or contractor failure. […]

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 […]

Performance  & Payment Bonds are designed to serve as an assurance that the work will be performed in accordance with the terms of the applicable construction contract. In most cases, […]

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 […]

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 regulatory entity. Contractor […]

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 Surety’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, […]