ORSC Blog

Why Work in Progress Schedules Are So Important “Can you send me a WIP that goes with this statement?” “Can you send me the fiscal year-end statement with WIP?” I’m sure you’ve heard those questions or some ...
How to Take Your Business to the Next Level and Increase Your Bonding Capacity Are you ready to grow your business? Maybe you’d like to bid on larger projects. Or the owner of your current job likes your work and wants to hire you for ...
Financial Statements: What to Expect in the Underwriting Process During the underwriting process, a surety company may request financial statements from both new and established clients. Financial reports provide us with a ...
Worker’s Compensation – Subs, 1099s, Employees – From a Risk and Bonding Perspective – It Does Matter! Workers’ compensation can be a sticky wicket for construction firms. It’s an area where new contractors and veterans alike can find themselves in legal and ...
Lessons from the Field: Why Business Continuity Planning Is Essential Like it or not, ownership and management changes are a certainty in construction. According to FMI, every construction company that isn’t publicly traded will go ...
Expect the Unexpected: The Importance of a Solid Continuity Plan Growing up in a family that owned an electrical contracting business, I was always surrounded by a strong work ethic and dedication to the business. While my role ...
Where There’s a Will, Surety Can Guide Your Way: Meet ORSC’s Senior Contract Underwriter - Matt Payment Matt shares stories of his road-tripping adventure down ORSC Avenue, from “Roll Tide!” to ocean life to Graceland to Music Row. What do hard hats, site maps, neon ...
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 ...
Contractors Can Seek Relief Through The CARES Act The vast majority of businesses in the United states are classified as Small Businesses under standards of the Small Business Administration (SBA).  Deteriorating ...
Underbilling: Why Your Surety Has Concerns — and You Should, Too Underbilling occurs when work you’ve completed hasn’t been billed or costs you’ve incurred haven’t been reimbursed. Nearly every contractor has some underbilling ...

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