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 ...
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 ...
How to Prequalify a Surety — and Why It’s So Important
The number of surety companies represented in any region can make the task of prequalifying or differentiating among them challenging to say the least. Many bond ...
Surety Relationship Management
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 ...
Adventures of a Corporate Climb: Meet ORSC’s Bond Manager — Scot Albrinck
Everybody has an Everest — a grandiose goal — Scot gives us a sneak peek (or perhaps we should say peak) into his. Staring the mountain in the face A few years ...
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), but it is also mentioned in the Bible and in The Quran. Ancient ...
Horror Stories About Fidelity Coverage
Just in time for Halloween, we have real-life horror stories from the House of Haunted Insurers that are guaranteed to give you chills:
