Applying for a contractor bid and performance bond involves a few steps, and it typically goes through a surety company or a bonding agent. Here’s a step-by-step guide to help you through the process: Get my bond now: https://www.serviceinsurancecompany.com/new-surety-bond-application-form 🔧 Step-by-Step: How to Apply for a Bid and Performance Bond 1. Understand the Bond Types Bid Bond: Ensures that if you’re awarded a contract, you’ll honor your bid and enter into the contr

County of Passaic, NJ – Highway Opening and Use Permit Bond The County of Passaic, NJ Highway Opening and Use Permit Bond is a surety bond required by the Passaic County Department of Transportation for any person or entity performing excavation, trenching, or surface disturbance on a county-owned roadway . Purpose and Scope Guarantees compliance with all rules, regulations, and laws governing the opening, construction, use, and maintenance of public highways in Passaic Count

Philadelphia Excavation Site Permit Bond Requirements In Philadelphia, any excavation contractor performing work that creates a cut, trench, or depression more than 5 feet below an adjacent grade must have an active excavation contractor’s bond before applying for or working on an excavation site permit Bond Details Type: Surety bond (excavation contractor’s bond) Amount: $100,000 Purpose: Financial guarantee that the contractor will comply with permit obligations, restore

Obtaining a contractor license in South Carolina involves more than just passing exams and submitting applications. For professionals working as onsite wastewater system installers at the Tier 3 level, securing a surety bond is a critical step. This bond protects property owners and the public from financial losses caused by improper installation work. Understanding the licensing and bonding requirements is essential for compliance and long-term success in this field. Apply

Many thanks to the Long Island chapter of the Construction Financial Management Association (“CFMA”) in association with the New York City Surety Association for inviting me to speak as a panelist on “The State of the Surety Industry: Challenges and Opportunities in 2026.” I enjoyed speaking among my fellow panelists: Joseph Cieri, Sr. Core Contract Home Office Underwriter at Liberty Mutual Surety, Brian Fiore, Co-Leader of Surety Reinsurance at AON and Barry Shabashkevich,

Applying for a contractor bid and performance bond involves a few steps, and it typically goes through a surety company submitted by your insurance agent. Here’s a step-by-step guide to help you through the process: https://www.serviceinsurancecompany.com/contractor-bid-performance-bonds 🔧 Step-by-Step: How to Apply for a Bid and Performance Bond 1. Understand the Bond Types Bid Bond: Ensures that if you’re awarded a contract, you’ll honor your bid and enter into the contra

Typical Cost (Premium Rate) Standard range: 1% to 5% of the total contract amount. Example: On a $1,000,000 contract, the bond premium could be $10,000 to $50,000. 📊 What Affects the Rate? Contract Amount Larger contracts = higher total premium, though rates often decrease as size increases (volume discount effect). Contractor’s Financials Strong credit, good financial statements, and solid project history = lower rate. Weaker credit or limited experience = higher rate (or m

1. Bid Bond When it's used: During the bidding phase of a project. Purpose: To guarantee that the contractor (bidder) will enter into the contract and provide the required performance and payment bonds if they win the bid. Protects: The project owner, ensuring that the contractor doesn’t back out or fail to provide bonding if awarded the job. Typical scenario: You’re bidding on a public project, and the owner wants assurance that you're serious and financially capable. ...

The Service Insurance Company very much appreciates the SFAA, NASBP and industry leaders’ efforts to educate legislators about the...

How to obtain a probate bond, administrator bond: Apply for the bond https://www.serviceinsurancecompany.com/court-surety-bonds The executor or administrator of the estate typically applies for the bond after being appointed by the court. Provide information Submit details about the estate and the applicant's personal finances to the surety bond company and a list of heirs may be required. On smaller bonds less information is typically required and underwriting is partial

How to obtain the Home Improvement Contractor and Home Elevation Contractor License Bond – NJ Home Improvement Contractor Bond - At a Glance: · Bond Amount: Based on the typical scale of projects the contractor works on. · $10,000 Bond: For contracts valued at less than $10,000, or for the performance of services in the past 12 months for contracts valued less than $150,000 · $25,000 Bond: For contracts valued between $10,000 and $120,000, or

Thanks everyone and Stephanie from our office for participating in the PIA event and Service Insurance Co Surety Bonds as a proud sponsor.

From: James Burger, President I would like to thank the Long Island Chapter of the Construction Financial Management Association (“CFMA”)...

Let's hope that there will be trickle down opportunities for small contractors. The Service Insurance Company will help make it easy to...

We are pleased to announce that A.M. Best has affirmed The Service Insurance Company's "A" (Excellent) rating. In upholding Service's "A"...

We wish to congratulate Garden State Fireworks, our license and performance bond client for over twenty years and Strictly Effects, for...

May 20, 2020 Due to the unfortunate increase in deaths resulting from COVID-19, some bar associations are offering pro bono legal...

To: All The Service Insurance Company[1] (NAIC # 28240) Surety Bond Policyholders, including but not limited to: Performance Bonds,...

We’ve made it quick and convenient for you to manage your blog from anywhere. In this blog post we’ll share the ways you can post to your...