Post by – Joe Allen – Minnesota Post Secondary Surety Bond Update New schools that have been granted conditional approval for degrees or names need to provide a surety bond. This will allow them the opportunity to apply for and receive accreditation under Minnesota Statutes section 136A.65, subdivision 7. The sum of the bond is […]
Post by – Joe Allen – Upcoming Bid Bond needs? Performance & Payment Bond needs? As we near the end of Summer, there are still many contractors looking to secure bid and performance & payment bonds. If your contractor has been declined, is looking to bid a project larger than their current program, or is […]
Post by – Joe Allen – Upcoming Renewals: *BMC-84 Bonds – October* *IL Plumbing Contractor License Bonds – September 30th* *AL Auto Dealer Bonds – September 30th* *AL Fundraising Bonds – September 30th* Updates: *AL Auto Dealer bonds will be increasing to $50,000 effective 10/1/2020* Contact CCI Today! Have a completed submission from another market? […]
Post by – Joe Allen – Commercial Bond News The Iowa Pharmacy Board recently signed into law new regulations requiring all wholesale drug distributors to post a license bond or letter of credit for $100,000. IA Wholesale Distributor License Bond Missouri has introduced a new license bond requirement for rental companies. This new bill will […]
Post by – Joe Allen – Why am I being required to obtain a Bid Bond? A bid bond provides financial protection to an owner if a bidder is awarded a contract but fails to sign the contract or fails to provide the required performance and payment bonds. Bid bonds also help screen out unqualified […]
Post by – Joe Allen – DMEPOS Bid Bonds We have been receiving inquiries in regards to the new DMEPOS Competitive Bidding Program. Bidders are required to obtain a $50,000 bond with bidding slated to last from July 16th, 2019 through September 18th, 2019. We can provide competitive rates! We will need the following information […]
Post by – Joe Allen – Fidelity & Crime Coverage We all have insurance where it is required and sometimes, it seems we have more insurance protection than we actually think we would need. However, there is an area many of us overlook – Fidelity & Crime coverage. In most cases, we never realize this specific […]
Express Scripts Bond – Application Information Successful applicants seeking for a Provider Agreement with Express Scripts must provide a $500,000 Express Script Bond There are many requirements in the bonding process. Express Scripts is requiring a Bond in the amount of $500,000. In addition, the Express Scripts Bond must be obtained through a bonding entity […]
Release of Lien Bond In most situations, Release of Lien Bonds are written with 100% Collateral as a condition. CCI Surety has options without 100% collateral requirements with clients with a range of credit scores and financial strength. The strongest accounts with high credit scores and strong financial information may have Release of Lien Bonds […]
Bond Quesitons Even Bond Experts Have Bond Questions It is impossible to be an expert on all types of bonds. There are new types of bonds required every year and the ones that already exist often change. Having a strong network to ask bond questions is a key to providing prompt service for your clients. […]
