The Surety & Fidelity Association of America (SFAA) is a trade association made up of companies that collectively write the majority of surety and fidelity bonds in the United States. The SFAA’s mission statement explains…
Before construction professionals can begin rebuilding structures in Joplin, they are legally required to meet local contractor licensing standards that include providing Joplin contractor bonds. The city of Joplin requires individual contractors and contracting firms…
An Illinois court ruled Monday that an insurance company is responsible for paying claims made against its principal’s community currency exchange bonds. Leading up to Hartford Fire Insurance Company v. Bank of America The Illinois…
Recent court rulings in California are setting a precedent that payment bonds used on public projects cannot be transferred to private subcontracting jobs related to the same project. Roger Haerr of California’s Luce Forward law…
Georgia House Bill 239, which amended Chapter 1 of Title 7 of the Official Code of Georgia Annotated, was passed into law and went into effect June 1. The law primarily addresses the dissolution of…