Month: June 2018

The Infographic, “A brief description of Fiduciary Bonds & Court Actions,” explains the different types of Fiduciary Bonds. Additionally, the fiduciary’s purpose and role are also explained.    Continue reading Infographic: Understanding Fiduciary Bonds:Who Needs Them and Why? read more

Also known as the debt collector bond, the collection agency bond is required for agencies that collect debt. The bond promises that the agency will follow all the rules and regulations of the business. If a successful claim is raised against the bond, the surety company will be liable to pay. The agency will then have to indemnify the surety for this claim. Continue reading Why are Collection Agency Bonds Essential? read more

Losing important documents can be stressful and damaging to a business. Itcan ultimately threaten a company’s investment. Luckily, a lost securities bond can help to protect against situations like this. This bond is usually required when a person has damaged, lost, or misplaced an original document. This could be a corporate bond, insurance policy, stock ownership, interest coupon, money order or check or any other important document that also serves as a proof of ownership. Continue reading read more

Due to the nature of its business, a collection agency is looked upon as a major risk entity. Since they are responsible to call people and ask them for money, people fear them or form negative opinions about their approach. To safeguard the interests of those involved, the agency has to first secure a collection agency bond, which is a prerequisite for getting a license to operate. Continue reading What is a Collection Agency Bond? read more

Fuel owners need a fuel tax bond for as long as they hold an active license. The bond is a guarantee that the holder (the fuel seller) will pay all the required taxes, interests, and applicable penalties. The obligee here is the State and by extension, the public. The fuel seller is the principal and must buy the bond from a surety company. Continue reading Who Benefits from a Fuel Tax Bond? read more

A fuel tax bond is a specific type of surety bond that those who sell fuel have to procure before they can get their operating licenses. This bond takes care of the taxes on fuel. Many people may correlate it to an insurance policy, but it is not so. It does not provide cover to you. Rather, it covers the state’s interests when you don’t pay the taxes from selling fuel. Continue reading What is a Fuel Tax Bond? read more

Many consumers find it challenging to apply for a surety bond online. Despite being an important document, surety bonds are not well known, which often leaves people guessing about the process. On the other hand, if you deal with a surety expert, the application process will be much easier. Continue reading How to apply for a surety bond online read more

Medicare bonds, also known as Medicaid bonds, CMS surety bonds, DMEPOS surety bonds, Durable Medical Equipment surety bonds, Pharmacy surety bonds, or Centers for Medicare and Medicaid Services surety bonds, are required by the Centers for Medicare & Medicaid Services (CMS) for all suppliers of durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS). The key purpose behind obtaining Medicare & Medicaid bonds is to: Continue reading What Are The Benefits Of Medicare Bonds read more

A surety bond is a three-party agreement. The obligee (project owner) requires the principal (contractor) to purchase the bond and comply with its terms and conditions. In case the principal fails to perform the contract, the surety (surety company) will complete the contract. With a surety bond in place, the project owner can be assured that the contractor is competent and prequalified enough to complete the contract as per the terms and conditions. Continue reading Things to Keep in Mind When read more