Service Contract Provider Bonds

Service Contract Provider Bonds

Have you ever purchased a service contract (sometimes referred to as an extended service plan or extended warranty) for your home, car, or consumer good? Most states regulate sellers of service contracts and require that the entity selling the contract has adequate...
Lost Instrument Surety Bonds

Lost Instrument Surety Bonds

Lost instrument surety bonds are typically required when a financial certificate is lost or stolen. The reason that financial institutions or transfer agents require lost instrument surety bonds to be posted is because if the original instrument is found, the...
Surety Bonds and Collateral

Surety Bonds and Collateral

Have you ever applied for a surety bond and were told by the underwriter or your agent that to be approved for the bond, that you would need to post collateral? This article goes into detail to explain why collateral is sometimes required as part of the surety bond...
What is a BMC-84 Bond?

What is a BMC-84 Bond?

Freight Broker Bonds (BMC-84) are surety bonds required by the Federal Motor Carrier Safety Administration (FMCSA) for those operating as transportation brokers with carriers performing interstate deliveries. The FMSCA requires that all brokers must file a bond...
Isn’t It All Just Paper?

Isn’t It All Just Paper?

Many institutional purchasers – like Third Party Administrators (TPAs), Insurance & Bond Agencies, and Reinsurance Brokers — of surety bonds and insurance products have traditionally thought of their relationships with Insurers and Sureties as being purely...
California cannabis surety bonds

California cannabis surety bonds

What you need to know – California cannabis surety bonds History: In February of 2018, the state of California created its own surety bonding program for the cannabis industry. Businesses within the industry are required to obtain a cannabis surety bond, also commonly...