Times They Are A-Changin’

As the title of the famous Bob Dylan song says, Times They Are A-Changin’.  And no one knows that better than the Green Bay Packers faithful.  After their first losing season since 2008, the Packers’ owners have gone to work revamping staff and instituting a new game plan for 2018. The times may also be changing in the surety marketplace.  For several years, strong profits, inexpensive reinsurance and competition in the surety underwriting business have worked to a contractor’s advantage.  … [Read more...]

Year End Considerations and Solid Surety Programs

While a company’s year-end considerations are not a new blog topic for Goldleaf Surety (Surety Bonds & End of the Year Considerations-Part 1; Surety Bonds & End of the Year Considerations-Part 2; Surety-Oriented Considerations at Year-End; and Surety Program and Year End Considerations), it is a topic worth visiting this time of year.  How a company deals with its year-end planning can have a significant impact on its bonding program moving forward. For this reason, we feel it is … [Read more...]

Surety Bonds and the Summer Solstice

The June solstice marks the longest day of the year in the northern hemisphere and the start of summer with its early sunrises, late sunsets and long, warm days in between. And while we celebrate the longest day of the year for the many wonderful benefits it brings with it - Goldleaf Surety strives to make sure that the bond application process does not feel like the longest day of your year. In fact, on smaller bid, performance and payment bonds, Goldleaf Surety may be able to help your … [Read more...]

Surety Program and Year End Considerations

It's that time of year  again to address how your company's year-end planning issues can affect your company's bonding program - both capacity as well as terms and conditions. The "quality" of year-end statements is a topic often discussed by Goldleaf Surety's Account Specialists with our clients.  In our December 3, 2014, blog post Surety Bonds and Year End Consideration we discussed the "quality" of a company's year-end financial statements and how these can affect a company's surety  … [Read more...]

Goldleaf Surety Assists Glass and Glazing Contractor

Goldleaf Surety Services recently assisted a large general contractor's glass and glazing division obtain bonding on a $6,500,000 project for  the operable window system, glass, and glazing to a luxury suite renovation at an NFL stadium.   In addition to the challenges relating to the type of work being done and the size of the contract, this bond included review of six related entities to include on the indemnity agreement; a multiple oblige rider to included 5 obliges;  and obtaining an All's … [Read more...]

Goldleaf Update On Surety Marketplace

Currently,  the surety industry has a lot of excess capital.  This translates into surety companies being fairly aggressive for good, solid contractors.  Surety companies are willing to look at expanding the capacity of contractors and providing better terms to good accounts. As a result of the soft surety market mentioned above,  Goldleaf Surety recommends that good, solid construction companies have a surety checkup periodically to ensure that they are getting the best possible surety … [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...]

Goldleaf’s President Participates in MSA Succession Planning Panel

Goldleaf Surety's President Jack Anderson will be part of the Succession Planning Panel hosted by the Minnesota Subcontractors Association (MSA) on Wednesday, May 11th.  The program is being held at the Radisson Hotel in Roseville, Minnesota. The panel, composed of Jack Anderson;  Tom Hubler  owner of Hubler for Business Families; David Levi, Senior Managing Director of CBIZ MHM, LLC; and Dave Senger, business law counselor and estate planning legal advisor with  Moss & Bennett will … [Read more...]

Bonding Capacity and Financial Statements

Goldleaf Surety Services has always stressed to its clients the importance of year-end financial considerations.  Beyond a history of consistent profitability and positive cash flows, surety companies focus a lot of their attention on equity and working capital to determine what level of surety support they are willing to extend.  That is why Goldleaf Surety Services stresses to all of our clients the importance of a regular financial statement review as an important issue in maintaining or … [Read more...]

Surety-Oriented Considerations at Year-End

With tax season upon us, many companies are dealing with their year-end planning issues.  And how a company deals with these issues can have an impact on their surety support for the upcoming year. In my December 2013 blog posts Surety Bonds & End of Year Considerations - Part 1 and Surety Bonds & End of Year Considerations - Part 2, we discussed in detail several year-end considerations that are vital to a company's future surety support.  Good advice from an attorney, banker or tax … [Read more...]