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Spring season is upon us – get your mortgage broker bond today! All mortgage brokers must obtain a mortgage broker bond before they can get a license. They must post a surety bond to ensure compliance with state regulations governing mortgages. Companies that service loans or are loan originators are also required to secure a…
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Obtain Your Contractor License & Permit Bond Individual municipalities across Michigan are required to obtain a Contractor License and Permit Bond before beginning construction. Contractors are expected (by state licensing boards and local municipalities) to file a bond to certify their work. A Contractor License and Permit Bond allows contractors to perform work within a…
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Secure Bid, Performance & Payment Bonds for Public Construction Projects Nearly all public construction work in the United States is completed through private sector firms. Generally awarded to the lowest responsive bidder through a competitive bid system, surety bonds are essential in this process. Corporate surety bonds enable government sectors (states, cities, townships, schools, and…
Read more March 23, 2021Get Your Bid, Performance, or Payment Bond Now! Bid Bonds Bid Bond is a prequalification indicating that the contractor is bondable for the performance and payment bond should they be read low or chosen by an Owner/GC/CM that they will enter into the contract and provide a Performance and Payment Bond. Performance Bonds Performance…
Read more February 2, 2021Contractor License or Permit Bond: A contract license or permit bond involves three different parties: the obligee, the principal, and the surety. It is a promise that the surety makes to pay the obligee in case the principal fails to fulfill their statutory requirements. These bonds are typically required by cities, states, and municipalities. Contractor…
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An appeal bond is required of a petitioner to set aside a judgment or execution from which the other party may be made whole if the action is unsuccessful. These bonds help protect the court from frivolous appeals that cost the court time and money. Appeals are always posted by the losing party in a…
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