Placing concrete requires specialized skills and equipment. The licensing requirements for concrete contractors vary from state to state. In some states, concrete contractors need a specific license ...

Surety bonds are an agreement involving a principal, an obligee and a surety company that issues the bond for a fee. In most cases, the obligee accepts a bid or application submitted by the principal.

In the heating and plumbing industry, licensed professionals are often required to post a surety bond. This state or local requirement ensures that customers working with heating and plumbing ...

Over the last 10 years, Ocean Construction in Marmora has worked on more than 100 federal construction jobs. Its specialty is National Historic Landmarks — things like roofing at Washington’s ...

Surety capacity was increasing at the start of 2012, says Marsh Inc., the big brokerage. Driven by new and expanded surety underwriting firms, new underwriting approaches and increased limits from ...

Today’s construction market is the toughest in years. Contractors are moving from private to public works and these sectors have significant differences. These include the bidding process, listing of ...

It is in this context that surety bonds have begun to attract attention—not as a financial innovation, but as a structural ...

That agreement gave Berkley sweeping rights. If things went south, Berkley could demand cash collateral on short notice, take ...

Contractors who wish to operate in California need to go through a licensing procedure with the Contractors’ State License Board. This process entails providing a $15,000 surety bond. A recent ...

A surety is suing a Louisiana school board for $890,270 over an arts-center project on which the prime contractor defaulted. Surety bonds are three-way agreements, and litigation between sureties and ...