Interest in international commercial surety bonds has risen in several regions of the world, creating opportunities and challenges for producers, said Kathleen Mitchell, National Practice Leader for Surety at Wells Fargo Insurance Services USA, Inc
If a statute dictates other forms of security are allowed, it’s time to start a conversation about surety bonding. Valle said the surety bond pays off to complete an unfinished project
Now is a great time to go back and listen to episodes of NASBP Podcast “Let’s Get Surety” that you might have missed last month!...Did you know that “Let’s Get Surety” has released over 100 episodes?
Resources for Educating Lenders NASBP Resources FOR educating lenders about surety bonds Below are NASBP Surety Stories (videos) and a slide presentation, titled "The Benefits of Surety Bonds to Lenders," as a pdf and the PowerPoint. These portray the benefits of surety bonds to lenders and community bankers
What are Surety Bonds? Who are Surety Bond Producers?
The major types of contract surety bonds are reviewed - their purpose, their limits, their risks, and conditions for default.
NASBP Policy Statement
The goal of architects is to help ensure successful project completion and to enhance the reputation of the owner—and the architect. Surety bonds play an essential role in the process by providing assurance the contractor is capable of meeting its contractual obligations and by protecting...
Surety bonds on construction contracts provide critical prequalification of a bonded contractor and financial protection for the owner and certain subcontractors and suppliers. Architects who are knowledgeable about bonds are well positioned to advise owners about these premier project risk...
The purpose of this course is to provide a thorough orientation to commercial surety compared with other forms of insurance and to give instructions on how to attend to the details of commercial surety bonds at all relevant stages. The focus is on the key elements of commercial surety and includes legal requirements, underwriting processes, participant roles, and risks