The surety bond industry, a subset of the insurance industry, is about to take a big step towards automation. Since its creation, suretyship has been extremely paper intensive, but a newly established technology oriented surety organization is looking to change that, fast. Enter SuretyBond.org, a software developer with big goals of automating an industry that seems to be dragging ... [full story]
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CNA Surety Corporation announced the appointment of Rosemary Quinn as its Senior Vice President, General Counsel and Corporate Secretary effective April 18, 2008. Ms. Quinn's appointment is expected to be affirmed at the next regular meeting of Company's Board of Directors, scheduled for April 24, 2008. Ms. Quinn, who is 53 years old, has been the Company's deputy General ... [full story]
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Allegheny Casualty Company, International Fidelity Insurance Company, and Associated Bond ("AIA"), representing the largest network of bail agents in the U.S., has selected Utah-based SecureAlert for a new preferred vendor program. SecureAlert, a subsidiary of RemoteMDx, Inc. (OTCBB: RMDX), is a national leader in tracking and monitoring criminal offenders through GPS-enabled technologies. "After conducting extensive research and carefully evaluating ... [full story]
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CNA Surety Corporation (NYSE: SUR: 16.35, -1.65, -9.16%) today reported net income for the fourth quarter of 2007 of $21.9 million, or $0.49 per diluted share, compared to $21.7 million, or $0.49 per diluted share, for the same period in 2006. The current quarter was impacted by additional reinsurance costs that largely offset the impact of higher gross earned premium ... [full story]
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Parana Banco (Bovespa: PRBC4), a private multiple bank focused on payroll-deductible loans and the middle- market segment, announces today its results for the fourth quarter of 2007 (4Q07). Adjusted Net Income reached R$113.5 million in 2007, excluding IPO expenses and including deferred commissions booked directly under shareholders' equity. This result is 117.7% higher compared to 2006. In the fourth quarter, ... [full story]
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A Zanesville man pleaded not guilty to one count of abduction and two counts of child endangering in a Muskingum County Common Pleas court Wednesday. Judge Kelly Cottrill accepted the plea from Joshua N. Skinner, 25, who was indicted by a grand jury last week. Skinner is accused of forcibly taking Gloria Skinner from the parking lot of Bogey's ... [full story]
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Fitch Ratings has assigned an 'AA' rating to the $118.4 million Tennessee State School Bond Authority (the authority) higher educational facilities second-program bonds, 2008 series A. The bonds, which are expected for competitive bid on Jan. 15, mature May 1, 2008-2037, with those bonds maturing on or after May 1, 2017 subject to optional redemption at 100% par. Fitch also ... [full story]
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The construction industry is a very good competitive marketplace. Contractors used to come across several projects that require them for as long as surety bonds guaranteeing their recital of the contract and looking out for sustaining a steady flow of work as well. Surety bonds are required of contractors on public projects let directly by federal, state or local government ... [full story]
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There may have been more than one occasion when you might have had to borrow money from a friend: at the coffee shop, in the office, or even for the cab service. When you run out of money, borrowing is usually your only way out. Juxtaposing the same with big corporations and the federal government, one would find it is ... [full story]
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Surety bond has made remarkable changes in the surety market during these past few years. Nowadays most of the people started realizing the uses and performance of the surety bond. Most of the companies started issuing the surety bond at different types and at different premium value. Surety bonds are issued by the bonding company as per the law, rules, ... [full story]
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Savings bonds are often overlooked by investors searching for that perfect investment; however, savings bonds represent a safe investing vehicle with added benefits that many products don't offer. For those unfamiliar with or needing a refresher on these products, savings bonds are a debt obligation of U.S. government (or some other country's government), and bonds are backed by the ... [full story]
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Have you ever heard co-workers talking around the water cooler about a hot tip on a bond? We didn't think so. Tracking bonds can be about as thrilling as watching a chess match, whereas watching stocks can have some investors as excited as NFL fans during the Superbowl. But don't let the hype (or lack thereof) mislead you. Both stocks ... [full story]
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Looking to increase your single or aggregate bonding limitations? This week we will explore what any contractor can do to wow their bonding company and increase the bond amounts in which they qualify for. What Bonding Companies Want: Bonding companies are guaranteeing your performance. Therefore, they want to feel comfortable that you have the experience and financial means to ... [full story]
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The surety bond market is currently a very conservative market. Contract and commercial bond departments throughout the nation have tightened up their underwriting practices due to enormous loses throughout the industry. Many sureties have had to close their doors, other have had their ratings drop to a level where they can not write the same business they could in years ... [full story]
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Bonds play a major role in todays market. Bonds become more essential in construction industry for completion of their construction projects. Underwriting bonds involve great risk. But the surety company will write these bonds for the benefit of their customers. If bonds have been underwritten, it has following benefits. * The oblige gets a guaranteed performance of the ... [full story]
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In today’s unstable and unpredictable economic climate, surety bonds are extremely important for company owners who wish to ensure that the legal terms of their closed contracts and agreements are properly respected by all parties involved. The practice of establishing surety bonds dates back hundreds of years ago, when such agreements had the role to increase the safety and efficiency ... [full story]
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Surety bond plays a major role in the development of the economy. In every business environment surety bonds are the most needed requirement to fulfill their aspects in a correct form. Nowadays, trends have been changed and people want to compile their requirements legally. So, every obligee requires their business to be done legally. Surety bond explains the essential factors ... [full story]
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There is a great range in rates for commercial surety bonds these days. Principals can see premiums range from 1-15% of the amount of the bond. Even a small bond at 15% can be extremely costly. In part 1 of 2 of this article, we will review what bonding companies look at when deciding a rate. Part 2 of this ... [full story]
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One of the first questions people ask when they are purchasing something is, "What does is cost?". There is no exception when it comes to surety bond shopping. Unfortunately, bonds are really considered a form of credit and the same rate does not apply to all applicants. It is not that agents do want to give you a better idea ... [full story]
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Depending on what type of bond you are investing in, could make you earn a lot. There are varieties of bonds available in the market such as Mortgage Broker Bonds, Surety Bonds, etc. Short term low return bonds are a safer way of investing your hard earned money, Companies and Government Issue bonds to meet their day to day operation. ... [full story]
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In today’s unstable and unpredictable economic climate, surety bonds are extremely important for company owners who wish to ensure that the legal terms of their closed contracts and agreements are properly respected by all parties involved. The practice of establishing surety bonds dates back hundreds of years ago, when such agreements had the role to increase the safety and efficiency ... [full story]
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A surety bond is a bond, which is created to protect the obligee against breach of the contract by the principal. This surety bond involves three parties; they are the principal, the obligee and the surety. In this surety bond, the surety gives guarantee to the obligee that the principal will perform his obligation as per contract. The surety bond ... [full story]
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Surety bond plays a major role in the development of the economy. In every business environment surety bonds are the most needed requirement to fulfill their aspects in a correct form. Nowadays, trends have been changed and people want to compile their requirements legally. So, every obligee requires their business to be done legally. Surety bond explains the essential factors ... [full story]
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The construction industry is a very good competitive marketplace. Contractors used to come across several projects that require them for as long as surety bonds guaranteeing their recital of the contract and looking out for sustaining a steady flow of work as well. Surety bonds are required of contractors on public projects let directly by federal, state or local government ... [full story]
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A surety bond is a contract between at least 3 parties: 1. the principal - the primary party who will be performing a contractual obligation 2. the obligee - the second party who is the recipient of the obligation performed by the principal 3. the surety - the third party that ensures that the principal's obligations ... [full story]
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Glenn E. Floyd, of the Floyd Law Firm, P.C., recently received an award at the National Association of Bond Lawyers annual meeting in Chicago. The award is for Floyd's creating and initial funding of the Carlson Prize, which goes to authors of scholarly articles in The Quarterly Newsletter and The Bond Lawyer, both association publications. Floyd is a charter member ... [full story]
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The U.S. Small Business Administration wants to help small business contractors who have struggled to obtain bonds since the 2001 terrorist attacks and the most recent recession. A byproduct of the economic downturn was a decrease in the number of companies willing to underwrite surety bonds, policies that contractors obtain to ensure clients they'll finish a job. Surety ... [full story]
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High yield bonds are bonds issued by corporations. These companies pay interest rates higher than those of top quality government or corporate bonds to attract investors. Corporate assets back the bonds; incase of default, the bondholders have a legal claim on those assets. To understand high yield bonds, let's define what a bond is. A bond is ... [full story]
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