New Minnesota Retainage Law as of August 1st

Several changes to Minnesota retainage laws were introduced during this past legislative session and have now been signed into law by Governor Walz. This email contains some highlights of the new retainage law as it will apply to all Minnesota contracts signed on or after August 1, 2019. The 2019 retainage changes will apply to all construction projects utilizing retainage in Minnesota - public and private. General contractors must reduce retainage at the same rate that owners reduce … [Read more...]

Goldleaf Surety to Host 3rd Construction Law Seminar

Goldleaf Surety Services will be hosting a Construction Law Seminar on Thursday, March 14th.  This seminar will be held at the Crow River Winery, Hutchinson, Minnesota.  The seminar will begin with registration at 8:00 am and will end with a free lunch at 12:30 pm. This year’s key note speakers will be Jason Tarasek and Patrick Lee-O’Halloran, attorneys with Thompson Tarasek Lee-O’Halloran law firm out of Edina. Mr. Tarasek and Mr. Lee-O’Halloran will discuss the following topics at this … [Read more...]

Goldleaf Surety to Host 2nd Construction Law Seminar

Goldleaf Surety Services will be hosting a Construction Law Seminar on Wednesday, March 13th.  This seminar will be held at the Embassy Suites Hotel and Conference Center, La Vista, Nebraska.  The seminar will begin with registration at 8:00 am and will end with a free lunch at 12:30 pm. This year’s key note speakers at our Construction Law Seminar will be Bonnie Boryca, Rich Gilloon and Nick Sullivan, attorneys with Erickson Sederstrom law firm out of Omaha. Ms. Boryca, Mr. Gilloon and … [Read more...]

Goldleaf Surety To Host Construction Law Seminar

Goldleaf Surety Services will be hosting a Construction Law Seminar on Thursday, March 7th.  This seminar will be held at the Best Western Bridgewood Resort Hotel & Conference Center in Neenah, Wisconsin.  The seminar will begin with registration at 8:00 am and will end with a free lunch at 12:30 pm. This year’s key note speakers will be Terence Bouressa and Steve Frassetto.  Both Mr. Bouressa and Mr. Frassetto are with the Menn Law Firm and have extensive legal experience. Mr. … [Read more...]

Goldleaf Surety to Host Construction Law Seminar

Goldleaf Surety Services will be hosting a Construction Law Seminar on Tuesday, March 13th.  This seminar will be held at the Country Springs Hotel in Waukesha, Wisconsin. This year’s key note speaker will be William E. McCardell.  Mr. McCardell is a partner in the law firm of DeWitt Ross & Stevens in Madison. He focuses his practice on two distinct areas of law (1) representing management interests in labor and employment law; (2) representing the construction industry in contract … [Read more...]

Goldleaf Surety to Host Construction Law Seminar

Goldleaf Surety Services will be hosting a Construction Law Seminar on Wednesday, February 28th.  This seminar will be held at Embassy Suites & Courtyard, 12520 Westport Parkway, La Vista, Nebraska. This year’s key note speaker will be Sean Minahan.  Sean is a partner in the law firm of Lamson Dugan and Murray, LLP in Omaha and a member of its Litigation Department.  Mr. Minahan has represented a broad range of clients in corporate litigation.  He has a specific interest in representing … [Read more...]

Software and Technology Bond Success Story

Large Commercial Surety Bonds generally include bonds needed in conjunction with service contracts such as transportation companies, janitorial companies, garbage collection companies, “non-sticks and bricks” construction contracts, as well as manufacturing and supply contracts and software and technology contracts. The underwriting considerations for this class of business are different from those for the contract bonds and have become more sophisticated and specialized over time. One … [Read more...]

Comparing Subcontractor Bonds to Subcontractor Default Insurance

Goldleaf Surety is often asked about the basic differences between subcontractor bonds and subcontractor default insurance (SDI).  As part of a contractor's risk management, it is important for your company to know and understand these basic differences.  To that end, we want to share with you the table below from Leaderboard Magazine. Issue Performance and Payment Bonds  Subcontractor Default Insurance Pre-qualification Process Conducted by the surety, a knowledgeable third party … [Read more...]

Protecting Yourself During a Construction Project

According to BusinessDictionary.com, risk management is defined as the identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. An organization may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy (or combination of strategies) in proper management of future events. Goldleaf Surety Account Specialists spend a good deal of time discussing risk management with our clients because successful … [Read more...]

Goldleaf Assists Fiber Optic Companies with Bonding

Over the last several months, Goldleaf Surety has assisted several fiber optic company's obtain the bonding support they needed.  Working with our surety partners, we were able to obtain bonds in situations where others had said no.  Each situation below had factors which Goldleaf Surety was able to understand and present to a surety so that they were comfortable with the risk. Assisted a private equity owned company which designs, installs and maintains private fiber networks for schools, … [Read more...]