Insights

How Much is a Surety Bond? Unfortunately, this is not a question that we can easily answer. If you are one of our Bond clients, we can review your bond to inform you of 'how much does a surety bond cost.' We work with some of the nation's top-bonding agencies. No matter what type of bond you are going for, we have access to carriers that can help you achieve your business goals. Bonding is not expensive when you look at the importance of getting bonded. You see'¦when you are bonded, people want

Vehicle Title Bond Although it is not generally known, a bonded vehicle title is actually an acceptable alternative to the standard vehicle title normally required to prove ownership of some kind of motor vehicle. Sometimes referred to as a certificate of title surety, they are considered proof of ownership by the Department of Motor Vehicles, as well as by insurance companies when purchasing insurance becomes necessary. In most cases, bonded titles are issued for automobiles, although they can

Vehicle Title Bond Although it is not generally known, a bonded title is actually an acceptable alternative to the standard vehicle title normally required to prove ownership of some kind of motor vehicle. Sometimes referred to as a certificate of title surety, they are considered proof of ownership by the Department of Motor Vehicles, as well as by insurance companies when purchasing insurance becomes necessary. In most cases, bonded titles are issued for automobiles, although they c

When a surety company, such as UFG is obliged to pay the amount of a claim made against an indemnity bond made by a specific obligee, it would, of course, suffer an immediate loss. However, under the terms of the indemnity contract, it would have the right to recover any losses incurred by legally pursuing the principal to make good on those losses. The personal and corporate assets of the principal would become fair game in such cases, under the guidelines of the indemnity contract, and could

A mechanics lien definition should begin by identifying the parties involved in the lien bond: the contractor, a property owner and a surety company. A contractor is the first party in this contractual agreement, and while they could purchase a lien bond, it is more likely that the property owner would purchase the bond, so it can be used to release the property from the contractor's lien. The surety company is generally an insurance company that sells the bond to the principal, which also incu

Bad news. New York auto dealer bond rates have increased. This may or may not affect your bond premium amount. The good news. NFP is on top of all rate changes and we'll work with you to help get you properly bonded with the least possible out of your pocket. New and used car dealers in New York will soon be required to achieve different bonding & licensing standards and requirements. On March 23, 2017, new NYC car dealer bond bylaws for license and bonding requirements were announced. This

If you aren't familiar with surety bonds and how they work, you have probably not heard the terms obligee and obligor. This discussion will provide some background on those terms, and on the importance of surety bonds in driving many of the biggest industries in the country, providing a guarantee of quality workmanship so that relevant standards can be adhered to, and finished products measure up to whatever regulations have been imposed on workmanship in a given industry. By the end of reading

There's not a business around that doesn't want to get ahead. However, it takes having the proper tools to do so. If your company is interested in bidding on both construction and private contracts, you'll need to get bonded. Any federal or state-financed construction project over $150K requires this type of bond. It doesn't stop there either. Even commercial projects for manufacturing and service as well as supply work require a surety bond. It's worth getting if you want to continue to move y

What Does Replevin Mean? It's certainly not a word that comes up in conversation often, unless you happen to be associated with a surety company that sells replevin bonds. A replevin definition starts with an understanding of the rights of property owners, one of the oldest of all kinds of actions associated with Common Law. Originally appearing during the 13th century, replevin was a procedure that could be invoked by a theoretical property owner. It would force another property claimant to re