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Home > Archives for surety bond

Happy Administrative Professionals Day

April 21, 2021by Lori Olson

According to the U.S. Bureau of Labor Statistics, there are more than 3.6 million clerical and administrative assistants in the U.S.   Today, on Administrative Professionals Day, Goldleaf Surety would like to thank our Administrative Professionals who we feel are some of the best of those 3.6 million.                 Becky Risa, Document Production Specialist                 Gwen Olson, Administrative Assistant                 Leanne Duis, Document Production … [Read more...]

Filed Under: Goldleaf Surety Blog Tagged With: Administrative Professional, Administrative Professionals' Day, surety bond

Shamrocks, Horseshoes and the Luck of the Irish

March 17, 2021by Lori Olson

This St. Patrick's Day we want to share a secret with you, it isn't about shamrocks, horseshoes, and the luck of the Irish.  In fact, it isn't about luck at all.  When you need assistance placing surety bonds for your client, you don't need shamrocks, horseshoes or the luck of the Irish on your side.  You need Goldleaf Surety Services on your side. As a national surety-only agency, we are here to help. Goldleaf Surety does not retail any insurance – we deal only in surety bonds. If your … [Read more...]

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

Goldleaf Surety And Your New Year’s Resolutions

January 29, 2021by Lori Olson

If one of your New Year’s resolutions is to be more productive with your time at the office, Goldleaf Surety is here to help you make that resolution a reality.  Surety bonds can be a time-consuming, costly and embarrassing process for many agencies.    Producers and CSRs can face steep learning curves if they want to handle the product.   With hundreds of different bonds available, your staff may not know which markets are most likely to write a particular class of bond, which forms to use, or … [Read more...]

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

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

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

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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Happy Administrative Professionals Day

The Role of a Fiduciary and Fiduciary Bonds

Shamrocks, Horseshoes and the Luck of the Irish

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