When you’re navigating the world of contracting and construction, understanding the different types of bonds can be crucial. Among these, Contractor License Bonds and Permit Bonds stand out for their role in ensuring compliance and ethical practices. This article describes these two bonds, explaining their importance and how they function within the industry. What are..
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Construction sites are inherently risky, with ever-changing environments requiring vigilant safety practices. Safety walks are crucial for identifying and addressing potential hazards before they escalate. These routine inspections help ensure worker safety and compliance with regulations. Key components of a safety walk include: Safety walks are a routine check and a cornerstone of a comprehensive..
As highlighted by PilieroMazza, small business joint ventures (JVs) aiming for set-aside work must adhere not only to Small Business Administration (SBA) JV regulations but also to relevant state laws. A recent ruling by the SBA’s Office of Hearing and Appeals (OHA) underlines the critical importance of this dual compliance. In the case of SysCom,..
In the complex world of real estate finance, maintaining integrity and trust is crucial. In Michigan, one of the key tools for ensuring these principles in the mortgage brokerage sector is the Mortgage Broker Bond. This type of surety bond plays a vital role in protecting consumers and ensuring that mortgage brokers adhere to state..
A recent ruling by a Tennessee bankruptcy court highlights a critical issue for sureties issuing bonds. Despite clear indications that bonds are intended to be statutory, this court case demonstrates that such designations might not always hold. Case Overview In this case, the surety had issued payment bonds for two public works projects on behalf..