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Home > 2014 > Archives for July 2014

Archives for July 2014

What is Bonding Capacity?

July 23, 2014by Lori Olson

Bonding capacity is an important issue for contractors as their capacity will determine which projects they can pursue. A company's bonding capacity is generally a single and an aggregate limit. Bonds are issued on a per job basis and the single limit is the per job amount a contractor is allowed for any one contract and bond. The aggregate is the maximum a contractor can have at any one time, and is comprised of the following: Remaining costs to complete on any projects … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bond, performance bond, surety bond, surety bond program, surety company, underwriting considerations

Avoiding Surety E & O Claims – Part 3

July 9, 2014by Lori Olson

By:         Jack Anderson, President of Goldleaf Surety Common Surety Handling Misstep No. 6: Failure to Adhere to Conditions & Exclusions of Line of Authority.  In instances where a surety has extended a line of authority to an agent and the agent has issued a bond that falls outside the line of authority, the agent will be held accountable for any loss a surety experiences as a result of the agency mishandling its authority. Ways to Avoid Surety E&O Claim:  Train all associates on … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bond, surety, Surety E&O issues

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Understanding the Underwriter – Lingering Generalities

Understanding the Underwriter – Financial Statements

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