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Surety Bond News June 22, 2011

Court ruling backs claims made on Illinois community currency exchange bonds

An Illinois court ruled Monday that an insurance company is responsible for paying claims made against its principal’s community currency exchange bonds. Leading up to Hartford Fire Insurance Company v. Bank of America The Illinois…


California Payment Bonds

Surety Bond News June 16, 2011

Public California payment bonds nontransferable to private contracts

Recent court rulings in California are setting a precedent that payment bonds used on public projects cannot be transferred to private subcontracting jobs related to the same project. Roger Haerr of California’s Luce Forward law…


Mortgage Loan Originators

Bond Legislation Updates June 10, 2011

Georgia Mortgage Loan Originators No Longer Need Individual Surety Bond

Georgia House Bill 239, which amended Chapter 1 of Title 7 of the Official Code of Georgia Annotated, was passed into law and went into effect June 1. The law primarily addresses the dissolution of…


Ohio Athletic Commission

License & Permit Bond Resources May 24, 2011

Ohio Athletic Commission requires surety bonds for combative sports promoters

In regulating the state’s combative sports industry, the Ohio Athletic Commission requires promoters to post two different surety bonds. The $20,000 Boxing, Mixed Martial Arts and Tough Person Promoters Surety Bond (also known as “Boxing…


Surety Bond News April 5, 2011

Free surety bond program for women and minority-owned small businesses in New Jersey

Last year New Jersey’s Essex County Office of Small Business Development partnered with The Surety & Fidelity Association of America to provide a free surety bond program to women and minority business owners in the…


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What is a surety bond? Learn more below.
What Does It Mean to be ‘Bonded’?

What Does It Mean to Be ‘Bonded’?

The phrase “licensed, bonded and insured” appears frequently in business advertising—but what does it mean?


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