Sponsored Content from Old Republic Surety Posted by Kelly Kimmel There is a saying in the construction surety world: “Contract is king.” If your contract and bonds end up in a litigation setting, courts tend to hold the surety to the contract over the bond forms. Performance and payment bonds, by their nature, carry out the terms of a contract and therefore are inherently attached to it. This important connection has made underwriting the contracts that are being bonded a large part of the surety bond underwriting process. Most brokers have created a bond-request form, which r ..read more

Sponsored Content from Old Republic Surety Posted by Beth Harbeck The internal workings of the surety make or break agent experience. You know the situation: marketing comes in, does a great presentation, and ratchets up the energy level. The desired result occurs, and bond agents commit to increasing production; then, they enter the underwriting process and… How many agents have become frustrated with sludge-like responsiveness, a disconnect between different people on the surety side (one hand not knowing what the other has done), and having to educate each new person they talk to? On the o ..read more

Sponsored Content from Old Republic Surety Posted by Greg Thraikill A narrow 60-mile-wide path across the Unites States from Texas to Maine will witness a total eclipse of the sun on April 8, 2024. Solar eclipses are visible somewhere on Earth once every 18 months, yet witnessing a total eclipse is rare. “A total eclipse happens at any given station only once in about 360 years,” wrote Henry Norris Russell in a 1927 textbook titled Astronomy: A Revision of Young’s Manual of Astronomy. In fact, the last recorded total eclipse in Dallas, Texas, where I am stationed, was over 400 years ..read more

Liz Hahn welcomes surety’s multiple opportunities for personal and professional growth ..read more

The procedure for setting up solar decommissioning bonds often depends on who needs the bond ..read more

Lessons Surety Professionals Have Learned About Indemnity Agreements ..read more

Part 2 of 2. The Scollick and Supervalu cases offer sureties and producers insight into mitigating False Claims Act risk ..read more

Sponsored Content from Old Republic Surety Posted by Beth Harbeck Settling wills and estates is often a straightforward process. But in some circumstances, the probate court may require the fiduciary to obtain an executor or administrator bond. An administrator executor, fiduciary, or personal representative bond is a type of court bond required to safeguard the estate and ensure that the wishes of the decedent are carried out. The bond also protects the rightful heirs of the decedent’s estate. An administrator and executor have similar duties. They both oversee the assets of a decedent. Howe ..read more

TREETY By Cavan S. Boyle of Ernstrom & Dreste LLP Fundamental to all litigation is the disclosure of information through the discovery process. So, too, is the mastery of strategies for protection of privileged material from such disclosure. In the surety context, certain privilege claims are common. For example, where the surety and principal work together against an obligee to pursue or defend a claim, it can give rise to a common interest/joint defense privilege. Likewise, the customary involvement of consultants adds to the privilege picture, both in their role in the investigation of ..read more

VENCAVOLRAB By Marty McCarthy of Marcum LLP According to the Department of Energy, the tax incentives within section 179D primarily benefit property owners and tenants that make construction expenditures. If you haven’t revisited them lately, it’s important to note that they were greatly enhanced by the Inflation Reduction Act. Let’s take a closer look at the details of the new legislation, and you’ll see just how advantageous these recently updated tax incentives can be for contractors and construction firms. In fact, the incentives introduced by the legislation are so monumental th ..read more