With millions of dollars at stake in maintenance and construction projects, it’s vital that government purchasing officers understand the importance of surety bonding for these undertakings. Two insurance executives recently made an educational presentation on how this practice provides the ri...
Author: UpworkDev
Understanding the Various Types of Surety Bond
For construction and contracting companies looking to get bonded, the process can be somewhat confusing. While you’ve probably heard lots of information about performance and payment bonds, the two core concepts at the heart of the surety and contracting industry. Did you know there are easily a d...
State Little Miller Acts: What They Mean for Contractors
Miller Act statutes are a necessary part of being a construction and contracting business. These acts, at both the federal and state level, very closely regulate the kinds of surety bonds that a business absolutely must carry if they wish to work on government contracts. That means if you’d like t...
Wyoming Little Miller Act
Wyoming, just like every other state, has laws in place designed to provide peace of mind to the government and to subcontracting bodies when a construction company bids on a job. These laws are based upon a Federal act called the Miller Act, which regulates and requires bonding be in place to prote...
Wisconsin Little Miller Act
It’s vital as a small- to medium-sized contractor for you to understand not just how surety bonding works, but the importance of it and how it plays into the legal aspects of your business. For example, when you begin to bid on government jobs to grow your company, there are laws in place that req...
West Virginia Little Miller Act
A Little Miller Act is a state-level statute that requires you to carry a certain level of bonding in order to bid on a government job. It’s based on a Federal statute called the Miller Act. If you’re a construction or contracting company and you’re looking to grow from small- or medium-sized ...
Washington Little Miller Act
If you want to find success as a contracting and construction business, your goal should be to win a government contract at some point in time. It’s an essential step in growing from a small or medium-sized business to competing at the highest levels. Of course, this also requires being familiar w...
Vermont Little Miller Act
When you’re trying to grow your construction and contracting company, you’ll eventually need to start bidding on government contracts. When you do, you’ll need the right surety bonds in place to make sure you’re giving your government contracting body peace of mind. It will reassure them tha...
Utah Little Miller Act
Surety bonding is absolutely essential to the contracting and construction business. Having the right bonds protects your clients against unforeseen circumstances which result in you not being able to complete a job. Being bonded shows you have the ability to complete jobs, as only those who don’t...
Texas Little Miller Act
A Little Miller Act is an essential piece of legislation regulating surety bonds for construction companies contracting with state governments for construction, public works, transportation and repair projects. These acts vary from state to state and are referred to as “Little,” because they’r...