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Home > Goldleaf Blog

Have Yourself a Very Merry Christmas

December 23, 2020by Lori Olson

Goldleaf Surety Services is hoping that you have yourself a very merry Christmas.  As 2020 comes to a close, we hope all of you are able to take the time to reflect upon all the blessings we have in our lives.  Despite all the challenges of this year, Goldleaf’s management and staff have many things to be thankful for both as a company and as individuals. Again this year we had an opportunity to give back to those in our community who truly need a helping hand during this holiday season.  … [Read more...]

Filed Under: Goldleaf Surety Blog

Understanding the Underwriter – Lingering Generalities

December 9, 2020by Lori Olson

After obtaining a basic understanding of the company’s operation and analyzing the current financial condition of the company, the underwriter will consider several questions that go more to the character or management capacity of the key personnel.    For many small companies, these issues seem quite unrelated to their ability to perform a contract and are somewhat of a nuisance to address with the underwriter.  However, many underwrites consider these issues important to establishing a … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bonding capacity, surety bond, surety program, surety underwriter, underwriting considerations

Understanding the Underwriter – Financial Statements

November 25, 2020by Lori Olson

A company’s financial statements are the underwriters next consideration.  Like loan officers at a bank, a surety company underwriter weighs your financial statements very heavily when determining whether you represent a risk of loss.  Again, surety bonds are a credit facility, and the surety company wants to make sure that your company is good on any losses that might be sustained.  On the assumption of zero risk, the underwriter is charged by the surety company with making sure that a company … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: financial statements, surety bond, surety program, surety underwriter, underwriting considerations

Understanding the Underwriter – Contractor Questionnaire

November 11, 2020by Lori Olson

The first thing that the surety underwriter considers from the bond application materials is the Contractor Questionnaire.  This form provides the underwriter with a first, detailed look at the company.  Understanding what the surety underwriter is looking for within the Contractor Questionnaire can be key to a successful application process.  Some very basic elements from a review of the Contractor Questionnaire will be interpreted very carefully by the underwriter: It is important to note … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: Contractor Questionnaire, surety bond, surety bond program, surety underwriter, underwriting considerations

Understanding the Surety Underwriter

October 29, 2020by Lori Olson

When a company makes an application for bonding support, they usually do so with the idea that they operate a strong company and would represent no risk to a surety company.  It can be a frustrating and maddening thing for the owner to hear that some person called an underwriter, working for some unknown surety company, in some faraway state thinks differently, and either has rejected the bond application or is requiring a lot of supplemental information to support the bond request.  … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bonding capacity, surety bond program, surety company, surety underwriter

Autumn Shows Us How Beautiful it is to Let Things Go

October 6, 2020by Lori Olson

I have to say that my favorite season of the year has always been autumn.  While it does herald in shorter days and cooler weather, I find it the most beautiful of all seasons.  I love pulling out my fall home decor and seeing all the beautiful reds, oranges, and yellows both inside and outside my home.  (I also love it when my young granddaughter comes and rearranges by decor because I just don't have her eye for these things!)  I love trips to the apple orchard, bonfires, hot chocolate with … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bond, court bond, fidelity bond, license bond, performance bond, permit bond, surety bond

Surety Bond or Letter of Credit – What’s the Difference

September 22, 2020by Lori Olson

Both surety bonds and letters of credit are used as a risk management tool on construction and development projects.  For this reason, Goldleaf Surety is often asked surety bond or letter of credit – what’s the difference. In September and October of 2015, Goldleaf Surety did a series of blog post comparing surety bonds and letters of credit in detail.  (Surety Bonds and Bank Letters of Credit Comparisons, Part 1; Surety Bonds and Bank Letters of Credit Comparisons, Part 2; Surety Bonds and … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bond, letter of credit, risk management tool, surety bond

Happy Labor Day!

September 3, 2020by Lori Olson

Labor Day is considered the unofficial end of summer.  The last long weekend to spend time with friends and family.  Like other holidays, the real reason we celebrate the holiday can be overlooked.  So, why do we celebrate Labor Day?  It is a day set aside to celebrate the contributions and dedication of the 122 million men and women who are in the United States workforce. The first Labor Day in the U.S. was celebrated on Tuesday, September 5, 1882.  It was held in New York City and planned … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bond, Labor Day, Labor Day Fun Facts, surety bond

RELAX – Goldleaf Surety Has You Covered

August 15, 2020by Lori Olson

To celebrate National Relaxation Day, Goldleaf Surety would like to take the worry out of your bond placement frustrations.  As a national surety provider licensed in all 50 states and working with more than two dozen surety companies, Goldleaf Surety has the knowledge and relationships to provide you with a wide range of bonding capacity for all types, sizes and classes of bonds. Contract Bonds – Bid Bonds, Performance Bonds, Payment Bonds, and Subdivision/Site Improvement Bonds are … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bond, court bond, fidelity bond, license bond, performance bond, permit bond, private equity, software bonds, technology bond

Legislation Affects MVD Bond Requirements

July 29, 2020by Lori Olson

Several states have enacted new legislation affecting Motor Vehicle Dealer (MVD) Bond Requirements. Alabama HB 393, which becomes effective October 1, 2020, makes several changes to the regulations governing the issuance of a motor vehicle dealer license.  One of these changes increases the license bond amount for new motor vehicle dealers, used motor vehicle dealers, motor vehicle re-builders, or motor vehicles wholesalers to be for not less than $50,000 or another amount that the Department … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: bond, license bond, Motor Vehicle Dealer Bond, MVD Bond, permit bond, surety bond

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Have Yourself a Very Merry Christmas

Understanding the Underwriter – Lingering Generalities

Understanding the Underwriter – Financial Statements

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