Surety Bond Education

Who Needs a Motor Vehicle Dealer Bond? In the state of Texas, anyone applying for a motor vehicle dealer license will first need to obtain a motor vehicle dealer bond.  If you are engaged in the business of buying or selling vehicles as a dealer you will need this bond. In the State of Texas, the amount of the bond is $25,000.  But the bond amount varies by state. What Does This Bond Guarantee? A Motor Vehicle Dealer Bond guarantees that you, as the dealer, will provide valid payment to anyone from whom you buy a vehicle. It also guarantees […]

What is a Work-In-Progress Report and Why Is It So Important for a Construction Contractor? If you are a construction contractor engaging in projects with duration over 12-months, I would highly recommend discussing the merits of using the percentage-of-completion method of accounting with your CPA. Percentage of completion is considered the most accurate method for matching the revenue created through billings and the costs created by work performed. The foundation of this method of accounting is the comparison of total job cost versus cost to date as the project progresses. And we see this information presented on a work-in-progress report. […]

Have you recently been to the Texas Department of Motor Vehicles and been told that you need as surety bond?  You will need a Texas Certificate of Title Vehicle Bond. And we can help you! Why Might I Need A Texas Certificate of Title Vehicle Bond? Perhaps  you’ve lost the title to your vehicle? Or, for instance, you bought a vehicle with no title?  Or perhaps you bought a custom vehicle or trailer that did not have a title? In order to be issued a Texas title you must provide evidence of clear title. One way to do that is […]

A Code Compliance Bond is a type of license and permit bond that a business or individual must obtain that relates to a professional license. The bond will guarantee that the individual or business will comply with the terms of their professional license. Some examples of these types of bonds include a Right Of Way bond for a contractor or a Contractor’s License bond.   How Do You Obtain a Code Compliance Bond? Obtaining this type of bond if typically pretty easy. It will require you to complete an application and pay the premium for the bond. Some entities will […]

The City of Austin, Texas requires a $10,000 Right Of Way Bond in several different circumstances. This bond is associated with a Right Of Way Permit. Some of the instances when you need a Right of Way bond are when you need a Right of Way permit for the following: Temporary Use of Right of Way Driveway/Sidewalk Excavation We are a surety bond agency located in the Austin, Texas area. We can help you secure your City of Austin Right Of Way Bond. The process is simple and we can issue your bond the same day you apply.  Here are […]

What is a City of Dallas Paving Bond? This bond is required of any contractor performing paving work in the city limits, including driveway approaches, sidewalk, and curb & gutter. What protections does the City of Dallas Paving Bond offer? It offers financial security, protecting the City should a contractor not follow required specifications and ordnances and construct in a workmanlike manner, free from defects. It protects the City and holds it harmless against any persons or property that may have been injured in prosecuting the work. It supports maintenance of related construction for a period of five (5) years. […]