ORSC Blog

Construction Company Do’s and Don’ts of Smart Contract Bidding Placing a bid on a public construction project comes with a host of risks for both contractors and public entities. A surety bond is an essential risk management ...
Translating the Top 5 Most Cringe Worthy Surety Conversations As bond managers, we always look for ways to help our agents, contractors and project owners better understand surety. It can be a pretty arcane subject, and not ...
How to Get Your First Bond, Part 1 This is Part 1 of a two-part article on acquiring your first bond.  Be sure to read Part 2 of Mueller’s advice for acquiring your first bond. Are you ready for ...
Commercial Surety 101: Why Contractors Need to Be Licensed and Bonded Most states require contractors to be licensed to obtain permits for projects. State and local jurisdictions may also require contractors to be bonded in order to ...
The Relationship between You, Your Agent, and Your Surety No matter what business you are in, you may need a surety bond at some point in time. This could range from a simple business services bond to a ...
As 2020 Closes: Consider Alternative Accounting Methods on Long-Term Contracts To say that 2020 has been a challenging year would be an understatement. Many small businesses across all industries were hit hard by the COVID-19 global ...
Maintaining Surety Credit in Times of Growth and Transition Most construction companies in the U.S. are owned by an individual or the members of a family. Yet, according to the Family Business Alliance, only 30% of ...
Why Your Construction Company Needs a Buy-Sell Agreement Has the topic of buy-sell agreements come up in discussions with your attorney, surety agent or accountant? Chances are someone who cares about the future of your ...
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 ...
Contractors: Is Your Internal Record Keeping Helping You or Hurting You? Let’s face it, the reason you went into construction is because you like being at the job site — not cooped up in an office. So you probably don’t spend as much ...

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