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 ...
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 ...
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 ...
Will COVID- 19 Be Considered a Force Majeure? On March 17, 2020 the City of Boston became the first city, but not likely the last city to close down all construction projects currently in progress due to the ...
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 ...
What to Expect - The New Revenue Recognition Standard In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“Topic ...

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