PHONE248-349-6227
FAX248-348-6762
Surety bond underwriting involves the pre-approval and evaluation of two primary performance requirements. These requirements, determined by the principals, are assessed to evaluate their risk level. The underwriting process encompasses a variety of concerns. Here are 10 key underwriting concerns you should be aware of: It is crucial to address these concerns before proceeding with…
Read more
Surety bonds have been a significant part of the commercial landscape for over a century. In fact, the concept of suretyship—providing guarantees—dates back several centuries. Although surety bonds are classified as a form of insurance due to capital requirements, they function more similarly to a banking instrument. This is because a contractor must qualify for…
Read more
When you’re navigating the world of contracting and construction, understanding the different types of bonds can be crucial. Among these, Contractor License Bonds and Permit Bonds stand out for their role in ensuring compliance and ethical practices. This article describes these two bonds, explaining their importance and how they function within the industry. What are…
Read more
Construction sites are inherently risky, with ever-changing environments requiring vigilant safety practices. Safety walks are crucial for identifying and addressing potential hazards before they escalate. These routine inspections help ensure worker safety and compliance with regulations. Key components of a safety walk include: Safety walks are a routine check and a cornerstone of a comprehensive…
Read more
Understanding State Law Requirements for Joint Ventures As highlighted by PilieroMazza, small business joint ventures (JVs) aiming for set-aside work must adhere not only to Small Business Administration (SBA) JV regulations but also to relevant state laws. A recent ruling by the SBA’s Office of Hearing and Appeals (OHA) underlines the critical importance of this…
Read more
In the complex world of real estate finance, maintaining integrity and trust is crucial. In Michigan, one of the key tools for ensuring these principles in the mortgage brokerage sector is the Mortgage Broker Bond. This type of surety bond plays a vital role in protecting consumers and ensuring that mortgage brokers adhere to state…
Read more