R&R’s decades of bonding experience throughout the state of Wisconsin have enabled us to simplify the bonding selection process for our customers. We base our standards off of a simple S.C.O.R.E card. S = Service: a staff fully dedicated to the daily service of bond needs and a commitment to excellence…24/7 C = Capacity: we have the» Read Full Article
Business owners know that having a trusted advisor network – your attorney, banker, accountant and insurance agent – is very important for making critical business decisions. For owners in the construction industry, it’s even more important to make sure that the CPA you choose is someone with an emphasis in construction, or someone at least» Read Full Article
In the past, business owners may never have thought they needed to have a bonding program. But with today’s economy, tightened restrictions on banks and an unstable marketplace, a bonding program has never been more important. It could mean the difference between getting a job or being overlooked…learn more in this quick video:
Contract Bond underwriters traditionally screen potential bond customers (contractors) on the basics of 3 C’s Capacity, Character and Credit. The 3 C’s are usually defined as: Capacity: to complete the work, the resources of manpower, equipment and track record of completing work in the category of the work contemplated. Character: the background and history of the» Read Full Article
The SBA has in place a Surety Bond Guarantee Program which helps contractors qualify for bonding. This offer will reduce risk for the bonding company, and will enable more contractors to qualify. R&R bonding division is available for any bonding needs or questions you might have. Contact our bond knowledgebroker Jay Zahn for more information. This plan offers assistance» Read Full Article
In the United States, the law requiring contract surety bonds on federal construction projects is known as the Miller Act. This law requires a contractor on a federal project to post two bonds: a performance bond and a labor and material payment bond. What’s important to know is that the threshold at which these bonds» Read Full Article
Construction is a complicated industry that faces ever-changing conditions. 2010 will be no exception as contractors will be feeling the pressure of a struggling economy, increased costs, minimal work and increased competition. Those who are not prepared will feel significant pain and could ultimately fail. The following provides some suggestions for managing the year ahead.