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Surety Top Related Articles
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1). Re-evaluating Surety Bond Underwriting By : Michael Weisbrot
Traditional surety bond underwriting does not allow for any losses. In other words, applicants are only suppose to be approved for a bond if the underwriter believes there will be no claims. This differs from insurance underwriting, as a loss is expected and is built into the premium. Higher risk applicants are usually declined or asked to post 100% collateral with the bond.
Article Related to: underwrite, surety, bond, insurance, bonds, claims, collateral, approved, bonding, market, conservative, premium, contracts, commercial, traditional, underwriting, underwriter
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2). Commercial Surety Bonds: Getting The Best Rate (Part 1 of 2) By : Michael Weisbrot
There is a great range in rates for commercial surety bonds these days. Principals can see premiums range from 1-15% of the amount of the bond. Even a small bond at 15% can be extremely costly. In part 1 of 2 of this article, we will review what bonding companies look at when deciding a rate. Part 2 of this article will discuss what you can do to better your situation to make sure you are at the bonding companies lowest tier rating.
Article Related to: surety, bond, insurance, rate, commercial bond, bonding companies, company, risk, financial, business financial statement, personal credit
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3). Surety Bond Bulk Discounts By : Michael Weisbrot
Every now and then I get a call from a new client asking how much of a discount they will receive for obtaining multiple bonds. I immediately know the conversation will take a bit longer than usual, as I will have to explain what surety bonds are in order for them to understand why they will not obtain a discount for placing multiple bonds.
Surety bonds are not an investment bond, rather they are a three party (principal, obligee, and surety) guarantee.
Article Related to: surety, bond, insurance, bonds, discount, rate, state, industry, performance, mortgage broker, producer, principal
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4). What is a Notary Bond and Why Do I Need One? By : Dave MacDonald
A notary public is an official appointed position by the Secretary of State's office in a given state. As with most public officials, the State requires that the individual obtain a surety or notary bond prior to receiving their appointment. This bond "makes sure" that if the official violates the public trust through negligence of their duties, funds are available to reimburse the State for its loss.
Article Related to: notary, public, bond, bonding, surety, e&o, e & o, coverage, insurance
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