Contract Bonding

What Is the Difference Between a Bid Bond and a Performance Bond?

A common question among contractors is: “What is the difference between a bid bond and a performance bond?” And to be honest, there are many differences between the two bond types. Think of a tomato and an orange. Sure, they’re both technically fruits. But only one of them belongs in a fruit salad. In [...]

By | 2020-08-17T13:27:58-07:00 August 17th, 2020|Contract Bonding|Comments Off on What Is the Difference Between a Bid Bond and a Performance Bond?

When it Comes to Contract Surety, Think Large and Small!

With contract surety, many agents and brokers focus on the large general contractors because they typically manage large projects and have large surety needs. However, the demand is just as great or greater with smaller or more specialized subcontractors who are essential to completing these large projects.  As an agent, you probably have many [...]

By | 2020-07-21T10:05:37-07:00 March 26th, 2019|Contract Bonding|Comments Off on When it Comes to Contract Surety, Think Large and Small!

2019 Construction Projections

Government backed infrastructure projects are prized contracts for contractors and subcontractors alike.  How the infrastructure and construction forecasts look for each year is always of utmost importance to companies as they explore new opportunities. At South Coast Surety, we prepare our brokers and agents to meet the needs of construction clients providing the most [...]

By | 2020-06-30T10:22:38-07:00 February 26th, 2019|Contract Bonding, Insurance Agents|Comments Off on 2019 Construction Projections

What Businesses can use Surety Support?

In my last column we discussed how a Bond-Only Surety Managing General Agency, like South Coast Surety, can act as an independent insurance agent’s own surety department. Today we are going to chat about the many businesses that can benefit and grow their business with a good Surety relationship established for bidding and bonding [...]

By | 2020-07-21T10:12:44-07:00 February 26th, 2019|Contract Bonding, Insurance Agents|Comments Off on What Businesses can use Surety Support?

Contractors Plan Ahead for Bids and Builds

Contractors are gearing up for the 2019 construction season. They are surveying the landscape; reviewing infrastructure plans and newly posted bid opportunities. Now is the time to consider bid bonds, months before groundbreaking takes place. South Coast Surety offers an excellent bid bond program that’s an easy sell for [...]

By | 2020-07-21T10:23:06-07:00 January 23rd, 2019|Contract Bonding|Comments Off on Contractors Plan Ahead for Bids and Builds