Year: 2011

Financial Planning Guide For Small Contractors To Maximize Bonding Capacity

A contractor’s aggregate bond limit is largely determined by their firm’s working capital, net worth and leverage positions as reflected in their fiscal year end financial statements. The year end statement is a tool primarily used to establish the following year’s bonding program with an interim statement, typically six months from the year end, used …

Financial Planning Guide For Small Contractors To Maximize Bonding Capacity Read More »

Maryland Church Fights Unlicensed Individual Surety Over Bond on Failed Project

The Korean Seventh-day Adventist Church was supposed to be in business in Columbia by now. The church’s 150 members signed a deal, put money down and watched bulldozers roll. But construction stopped in late 2008 and the congregation never recouped its investment. Thanks in part, church officials say, because a bond that was supposed to …

Maryland Church Fights Unlicensed Individual Surety Over Bond on Failed Project Read More »

Delaware Mortgage Loan Modification Service Provider Bond

SB 42 bill pending would require mortgage loan modification service providers (service provider) to register and post a $100,000 surety bond. The bond would run to the State for the benefit of the Attorney General and any consumer suffering damages as a result of the service provider s wrongful act, omission, default, fraud or misrepresentation …

Delaware Mortgage Loan Modification Service Provider Bond Read More »

California Contractors LLC Business Licence Bond

SB 392 requires contractors organized as limited liability companies (LLCs) to post a $100,000 bond as a condition of an LLC business license. The bond is for the benefit of any employee damaged by his or her employer’s failure to pay wages, interest on wages or fringe benefits. Further, if the licensee is a party …

California Contractors LLC Business Licence Bond Read More »

New Jersey Foreclosure Consultants Bond

AB 359 would regulate foreclosure consultants. The bill would require such consultants to post a surety bond in the amount that the Director of the Division of Consumer Affairs prescribed by regulations. Such consultants would not include banks, savings banks, savings and loan associations, credit unions or other federally insured financial institutions or insurance companies. …

New Jersey Foreclosure Consultants Bond Read More »

Scroll to Top