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Updated by Nielson Hoover & Company on Dec 27, 2018
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Nielson Hoover & Company

Nielson, Colley & Associates is located in Charlotte, North Carolina, which is one of the eight members of the surety alliance founded by Nielson, Hoover & Company. This office is located at 2115 Rexford Road, Suite 310,and managed by Art Colley. Colley who is Managing Partner & Surety Bond Specialist. Now, contact us for surety and contract bond services at the industry competitive price on national and international level. Call us: 704.362.3991

Benefits of Performance Bonds

When you have a construction company, it is essential that you have a construction performance bond. This bond guarantees that there would be satisfactory completion to the construction project. When you are applying for performance bond it is important that you have something to back you up.

Contractors Vs Insurance Company

Sometimes the difference between a contractors company and insurance bonding may get blurred. Bonds usually protect the investment and the interests of the consumer. Insurance usually protects you and ensures protection to your investment.

When you are in the Construction Company then surety bonds insurance companies are an essential part. Surety bonds are a mark of trust between the customer and the owner and other third parties. This bond ensures that if anything happens to the owner then the customer would be assigned another company who would complete their project.

How Your Surety Bond is Priced

What is the biggest factor when buying a surety bond? It’s the bond cost. It’s important to remember that the actual cost of the bond is just a fraction of it’s value. The cost of a surety bond is also known as surety bond premium.

What You Should Consider When Calculating Bond Cost

One of the biggest factors in commercial surety bonds costs is your credit score. If we assume that you have a good score, there are other factors that must also be considered. This includes all the other parties in the bond: the people, rules and laws that govern the costing of bonds.

How to Select the Best Surety Bond Insurance Company?

For all kinds of business and construction projects, you need surety bonds. These are legal stamps on your project. Making sure that it is completed within the promised period and payment is done within the stipulated time.

What Does Contractor Surety Bond Guarantee?

Sometimes you may get confused between what insurance bond and a surety bond is. Although you can regard surety bond as a part of the insurance company, you cannot regard surety bond as a part of the insurance policy. Contractor surety bonds are differently related when compared to insurance bonds.

Role of Payment Bonds in Construction Projects

With an increase in the number of fraud cases, a payment bond is a surety mark that you sign. This ensures all the subcontractors, laborers and material suppliers that they would get their required payment on stipulated dates.

5 Commonly Used Commercial Surety Bonds You Should Know Of

Surety bonds come in all shapes and sizes. Their purpose can vary depending upon what you really want out of them. But before getting into that, it’s necessary to revisit their purpose first.

Commercial Surety Bonds and a General Run-Through of Their Functionality

Commercial surety bonds mostly come into picture when it’s the government projects and contracts at stake. These bonds ensure that the contractors who pick up the projects are kept in check and are able to follow the conditions set in the contract.

What You Really Need to Know about Commercial Surety Bonds

Surety bonds are generally very specific in nature. It is because every such bond only covers a particular area only. However, that is just not the case with commercial surety bonds. These can also be called general bonds that represent many other bond types,

As a businessperson, you will always know the importance of a surety bond. It is these bonds that give you more than one reason to feel secure while entering a trade agreement. Regardless of the size of the transaction and which party you represent

Top Factors That Surety Companies Consider Before Issuing Surety Bonds

Surety bonds have always had a major role to play in facilitating the outcome of several kinds of transactions. Right from real estate industry to government contracts, surety bonds have been an important binding document.

Surety Bonds and How They Can Benefit Everyone Involved

Surety bonds are probably one of the best documented tools you can ask for before entering any deal. These bonds are intended to safeguard the interests of different people, depending upon the purpose for which they have been issued. For instance, a real estate company may require a mortgage bond before assigning the work to a contractor.

Benefits of a Surety Bond

Before being hired for a project, contractors are usually required to secure a surety bond.There are many factors that affect whether or not a surety company will issue a bond to a contractor. Some of these factors include, but are not limited to, credit history, the amount of risk for the project, the contractor’s experience, and more.

Benefits Of Surety Bonds For The Construction Industry

The construction industry is one of the major pillars of the world economy. It is one of the eminent genres of employment that contributes to the GDP of the countries across the world. There is no doubt or second opinion to the fact that the construction projects include some very high amounts of financial investments.

All About Payment Bonds

Payment bonds are financial security and guarantees that are applicable in the construction industry only. This is a type of guarantee that is made by the contractors and the bidders so that all the due payments are made to its employees, the suppliers of the contractors and another creditor in lieu of the materials and the services that they render. These payment bonds are also known as contract bonds.

Surety Bonds for Deal Security – Must Have For Businessmen

In the realm of financial dealings, stability and a kind of surety are highly essential that will give a sense of security and safety to the parties who are involved in the dealing. This surety indicates at the fact that whatever could be condition and the challenges for the parties involved in the dealing or the business, the transaction will be carried on without any hiccup at the regular course of events.

How To Get Sound Surety Bonds For Commercial Construction

Commercial construction is a large scale and an expensive job. This is a task that requires a good amount of funding and backing by surety bonds. Contractor surety bonds are some of the common bonds that are required at the time of a commercial construction.

Importance of payment bonds in construction projects

Payment bonds hold a great importance when it comes to construction projects. It is so because a payment bond is set certainly to make sure that everyone is involved with the particular project gets paid the proper wages that they are promised to be paid.

Ways To Lower The Cost Of Your Surety Bonds

There are many ways by which you can lower your cost of surety bonds other than that of choosing the right surety Bond Company. There are many other ways in which you can do on your own in order to reduce your monetary burden for surety bonds.

Commercial Surety Bonds and Their Importance for All Parties

Commercial surety bonds have become quite a common norm nowadays. These bonds primarily secure any investment or funds of a government authority in a number of ways. In general terms, the bonds ensure that those who furnish the bonds execute the tasks assigned to them by the authorities as per the agreement.

Different Kinds of Commercial Surety Bonds and What They Cover

Surety bonds are primarily meant to serve the purpose of a secured deposit if the progress on a project goes south. Even government agencies on all levels require contractors to furnish these bonds before giving them the contract.

Commercial Surety Bonds

A commercial surety bond covers aspects that are not covered by the contract surety bonds. You can learn more about the sub-categories below:License and Permit Surety Bonds, Fidelity Surety Bonds, Fiduciary Surety Bonds, Public Official Surety Bonds & Court Bonds.

Construction Performance Bonds

Obtaining a performance bond is usually required for construction projects. Surety companies issue the bond to contractors (the principal) bidding ona project. Once they win the contract, the contractormustprovide the bond.

  • Nielson, Colley & Associates is located in Charlotte, North Carolina, which is one of the eight members of the surety alliance founded by Nielson, Hoover & Company. This office is located at 2115 Rexford Road, Suite 310,and managed by Art Colley. Colley who is Managing Partner & Surety Bond Specialist. Now, contact us for surety and contract bond services at the industry competitive price on national and international level. Call us: 704.362.3991

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