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<strong>Types of Construction Bonds</strong>

Types of Construction Bonds

The industry offers a large variety of surety bonds, which are required to bid or work on all public works projects, private construction, remodeling, and new construction. The different types of surety bonds include bid bonds, performance (contract) bonds, and payment bonds. These bonds offer protection for the project owner, taxpayers, investors, etc., associated with…

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Bond Markets Fluctuate Based on Rising Interest

Bond Markets Fluctuate Based on Rising Interest

At the end of 2021, the 10-year treasury note reached only 1.5 percent, creating low-interest rates. Less than a year later, in October 2022, the rates peaked at more than four percent, which hasn’t been seen since April 2010. These unusual bond market fluctuations force investors to constantly recalibrate to keep up.  Because of the…

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<strong>Vehicle Dealer Bonds Increased</strong>

Vehicle Dealer Bonds Increased

Since January 23, 2023, the Michigan Uniform Vehicle Dealer Surety Bonds (also known as Michigan auto dealer bonds or Michigan motor vehicle dealer bonds) has increased from $10,000 to $25,000.  Mandated by Michigan Compiled Laws 257.248, the surety bond requirement has yet to be distributed to all motor vehicle dealers. Any individuals or business entities…

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<strong>Digital Bonding and Surety for Construction Firms</strong>

Digital Bonding and Surety for Construction Firms

Digital bonding in the construction industry is much more common these days, primarily due to the introduction of digitization into the surety industry. Especially since the pandemic, when many everyday activities suddenly were launched into the digital realm, digitization of sureties for the construction industry has only gained momentum.  Paperless, fully digital bonding platforms are…

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Merry Christmas and Happy New Year!

Merry Christmas and Happy New Year!

To all our Construction Bonding Specialists friends and family, Wishing you many blessings of health, peace, and joy this holiday season and throughout 2023. We are so grateful for our wonderful clients, and we want you to know that we genuinely appreciate you! Warm Regards, The Construction Bonding Specialists, LLC family BONDS ARE ALL WE…

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Small Rural School Districts and Disadvantaged Communities Face Unfair Levies and School Bonds

Small Rural School Districts and Disadvantaged Communities Face Unfair Levies and School Bonds

The Wahkiakum school district in southwest Washington argues that the levying system leaves rural school children with crumbling, outdated buildings. The small community of about 2,000 residents has appealed to the states Supreme Court and is waiting for the attorney general’s office to respond. In 2012, the state Supreme Court favored the McLeary case, in…

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