Below you'll find a list of all posts from January, 2023
Posted by OldRepublicSurety Surety underwriters ask a lot of questions. They do so to fully understand your business to better support your project opportunities. Part of the process is determining you qualify for the size and scope of the projects for which you require bonds. If your organization cannot carry out the construction contract, your surety is obligated to carry …
Posted by Rich Sghiatti, OldRepublicSurety Ninety percent of U.S. counties had a weather disaster in the decade between 2011 and 2021, according to research released in November 2022 by Rebuild by Design. Those disasters included severe storms, wildfire, flooding and landslides, and most resulted in loss of power and other serious infrastructure damage. Contractors with good business continuity and disaster …
Posted by Kelly Kimmel, OldRepublicSurety There is a saying in the construction surety world: “Contract is king.” If your contract and bonds end up in a litigation setting, courts tend to hold the surety to the contract over the bond forms. Performance and payment bonds, by their nature, carry out the terms of a contract and therefore are inherently attached …
