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 ...
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 ...
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 ...
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 ...
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 ...
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 ...

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