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03/25/11

History of Bonding

Suretyship is an ancient practice, with the first documentation contained in the Code of Hammurabi, circa 1790 BC, which outlined requirements for individuals to act as surety. The practice of an individual co-guaranteeing the obligations of another for a pre-determined fee spread throughout the Fertile Crescent and is reflected in the early legal codes of […]

02/04/11

A proactive approach to securing bond credit

Over the past couple of years, downturns in residential construction have forced many contractors from the private to the public sector, driving down margins. This in turn has increased contractor failures, producing tightening in the bond and lending industries. Surety underwriters have responded to escalating losses by returning to fundamentals of underwriting. A proactive approach […]