Florida Motor Vehicle Dealer Bond Renewals General Information about the Florida Motor Vehicle Dealer Bonds The deadline to renew Florida Motor Vehicle Dealer Bonds is approaching. Renewal notices may be sent as early as this week which means clients will soon be looking to renew their bonds by the April 30th Deadline. CCI Surety, […]
SBA Bond Guarantee Program General Information about the SBA Bond Guarantee Program The SBA Bond Guarantee Program was developed by the Federal Government to help small to medium and emerging contractors gain more access to surety bonds. Surety bonds are required on many projects at many government levels as well as some private construction […]
$75,000 BMC-84 Bond – New Company 1 Page Application – No Financials Required Last fall, the FMSCA increased the bond requirement for BMC-84 Bonds from $10,000 to $75,000. The original deadline to acquire the bond was October 1st, 2013. During that time many freight brokers rushed to their insurance agents to place these bonds […]
$1.2 Billion in Contracts Awarded to Small Construction Firms in 2013 Story Below from Times Record News Original Story With the help of the Small Business Administration’s Surety Bond Guarantee Program, small construction firms were awarded in fiscal year 2013 more than $1.2 billion in contracts, the SBA reported. This number represents a 61 percent […]
SBA Quick Program Update As of February 12, 2014 the SBA Quick Program has been expanded to include projects with 2 year maintenance periods. In addition, liquidated damages up to $1,000.00 per day can also be accepted in the program. This program is beneficial for small contractors and can help them build a bond history […]
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New $75,000 BMC-84 Bond As the dust settles on the October 1st BMC-84 Bond rush, we are now into the next phase where sureties are now in a position to potentially back date bonds in order for Frieght Brokers required to obtain the to be in compliance with the new regulations. The new $75,000.00 bonds […]
Quick application programs are great tools when your contractor fits into the program but there are important things to remember about quick program limitations and what to do if your account does not fit the program.Quick application programs are not necessarily a “Non-Standard” option. Many accounts that cannot fit into a typical quick program can […]
How To Handle Bonds in Bad Credit Situations Bad Credit Bond situations come in many forms and we see a lot of accounts that have bad credit or other challenges. Obtaining a bad credit bond can be challenging for contractors and insurance agents that do not have a relationship with a surety that handles bonds […]
BMC-84 Freight Broker Bonds As the October 1st change to $75,000 bond requirements approach, many agents and brokers are still scrambling to find homes for their BMC-84 Bonds(formerly ICC Property or Freight Broker Bonds). At this time we are still able to get quotes out but those quotes will soon need to be evaluated after […]
