ORSC Blog

Surety Bond or Letter of Credit: What's the Difference? Surety bonds and letters of credit (LOCs) both provide risk management for construction or development projects. To know which is appropriate to use, it helps to ...
Is It Possible to Cancel a Bond? We all know bonds are not the same as insurance. While bonds are considered to be a type of specialty insurance, and the surety is usually an insurance company, ...
Cross-Selling Opportunities in Commercial Surety An insurance agent who can accommodate clients’ surety bond needs along with their insurance is a well-rounded agent. You are providing your insureds with ...
How Sureties and Contractors Can Mitigate Performance Defaults No one likes it when a job goes south. The owner loses money, subcontractors don’t get paid, and there can be costly litigation. In short, it’s in everyone’s best ...
Maintaining Your Surety Relationship — Share the Ugly, Celebrate the Success In order to maintain a good relationship with your surety, you must be as transparent as possible. We really don’t like surprises. If anything happens with your ...
How Do I Increase My Bonding Capacity? We are often asked by agents and contractors about how they would go about increasing their bond capacity.  The amount of things a contractor can do to accomplish ...
Consider These 4 Questions When Hiring a Subcontractor If you’re a general contractor, you know the right subcontractors can mean the difference between a smooth job and a million headaches. While a surety company ...
Seven Things You Didn’t Know About Surety It’s really old Not only was surety mentioned in the ancient Code of Hammurabi (circa 1754 BC), it is mentioned in the Bible and in The Quran. Ancient Roman ...

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