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 ...
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 ...
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 ...
Personal Indemnity: ‘What? You Want My Spouse to Sign?’
We often get questions about the indemnity part of surety, especially regarding spousal indemnity. Contractors often understand the need to obtain a surety bond ...
The ABCs of Surety Bonds
What’s the difference between surety bonds and insurance? That’s a question I hear often, and it’s a good starting point for discussion. Knowing those differences ...
Picture Day for Contractors
If there is one thing I learned in grade school, it is that some days are more important than others. Most notably, in the life of a grade schooler, picture day ...
Construction Oriented CPAs Play Key Role for Contractor's Bonding Needs
We often hear contractors say that getting a job is the hard part – completing the project is the easy part. Many factors go into that, one of which is having ...
A Tale of Two Opportunities: Financing of Risk Through Subcontract Bonds
Last month I met with two contractors where subcontract bonds were a central topic. The first was a paper general contractor, meaning they administered the ...
What Happens in Vegas .. Also Happens in New Mexico, Arizona, & Utah for ORSC’s Bond Manager — Sean Rummel
Sean takes us on his journey through the desert — but there’s nothing dry about his story. In 2013, Sean interviewed at Old Republic Surety in Atlanta, where he ...
