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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?
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?
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
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...
What is a surety bond?
A surety bond is a three-party agreement between the principal, the surety, and the obligee. Surety bonds can be required for various reasons such as to start a business, obtain a license, take on construction projects or to fulfill a court order. States and...