Surety Bond Education

If you are a Demolition Contractor wanting to work in San Antonio, be sure to register with the city by completing their demolition contractor license registration application and provide the required $5,000 City of San Antonio Demolition License Bond and insurance. You must have your original bond and insurance in place before they issue permits. Click here to visit the City of San Antonio website for their application and more information. Remember the city will require original documentation at the time of application for city license registration, so let us help you prepare by getting your bond in place. The bond must […]

A Supply Bond is a type of contract surety bond. Specifically it is used to guarantee a contract for supply of materials.  For example, a construction project may require purchase of components that are high-dollar, specialized, and/or critical to completion of the project.  A Supply bond could help manage the financial risk of not getting your delivery on time or at all. Is a Supply Bond Different Than A Payment & Performance Bond? Unlike a Performance bond, which would include labor exposure and execution of construction, a supply bond guarantees delivery of materials or equipment from point A to point […]

Public owners such as the federal and state governments, counties, cities, school districts and the like take in our tax dollars and some of it, if we’re lucky, goes toward capital improvements that we get to use every day.  These public owners have a duty to taxpayers to get the best value available and so they often offer projects under competitive bid letting structure. Financial Security The owner will prepare plans, specs, and an engineer’s estimate for use by contractors as a basis for their estimate or bid.  Once the contractor has prepared their bid, they submit to the owner […]

Payment and Performance Bond Information Information Underwriting Indemnity Agreement Qualifying for a Payment and Performance Bond Some of the surety companies we represent offer an expedited underwriting process based on a completed application and personal credit scores. A minimum credit score of 600-700 will be needed, varying by company, and business credit will also be reviewed. The stronger your score, the easier it will be to qualify for a payment and performance bond. The application often includes work references for large or previously bonded projects. Rates and Forms Premium rate on smaller bonds in the expedited program will vary by […]

What is a Right of Way or “ROW” anyway?  The most basic definition of a right of way is a legal right to pass through property belonging to another. A public Right Of Way is a type of easement granted over land for transportation purposes such as highway, road, footpath, rail transport, canal or even utility lines.  We will focus on the City of Austin Right of Way Bonds here. Right Of Way Permits Business activities like a sidewalk cafe or locating a dumpster on public property will require a permit from the local municipality such as the City of […]

Are you a contractor performing in the City of San Antonio Public Right of Way? Will you need to cut the street pavement structure to install new pipeline or other infrastrucrure? Those are just a few example of when you will need a Right of Way Permit Bond. Why does the City of San Antonio require a Permit and Bond? To protect the users of the right of way and the City’s investment in infrastructure To improve construction coordination To minimize the impact of construction To recover the cost of damage done by construction activities With these goals in mind, the […]