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how much does a bid bond cost?

Posted: January 22, 2024

The cost of a bid bond can vary based on factors such as the project's size, complexity, and the bonding company's policies. Bid bonds are typically priced as a percentage of the total bid amount. Commonly, bid bond costs range from 1% to 5% of the bid price. Several factors influence the specific cost: Bid Amount: The larger the bid amount, the higher the absolute...

What is the purpose of a surety bond?

Posted: January 20, 2024

A surety bond is a financial agreement involving three parties: the principal, the obligee, and the surety. It serves as a guarantee that the principal will fulfill specific obligations. In essence, it's a form of risk management. Principal: The entity obligated to fulfill certain tasks, often a contractor or business. Obligee: The party requiring the bond, typically a government agency, project owner, or entity seeking...

The Keys to Launching a Successful Side Gig

Posted: January 19, 2024

In a world that thrives on versatility and innovation, launching a side gig has become a popular and rewarding pursuit for many individuals. Whether you’re aiming to supplement your income or turn a passion into profit, starting a side hustle requires careful consideration and strategic planning. Consider the following factors for launching a successful side gig, offering ideas for various ventures, and addressing essential considerations,...

How to Master Professional Networking & Relationship Building

Posted: January 4, 2024

In the dynamic world of entrepreneurship, mastering the art of networking and relationship building is a key ingredient for success. Beyond expanding your business connections, effective networking can also extend to crucial partnerships, including the one you build with your independent insurance agent. To foster your networking skills, explore these valuable networking tips tailored for entrepreneurs and new business owners, emphasizing the importance of fostering...

Arizona Loan Originator - Mortgage Banker Bond - $200,000.00

Posted: January 1, 2024

In the dynamic realm of mortgage lending, trust and compliance are the cornerstones of a successful business. For Loan Originators and Mortgage Bankers in Arizona, ensuring adherence to regulatory standards is not only a legal requirement but a commitment to ethical financial practices. Enter the Arizona Loan Originator - Mortgage Banker Bond, a $200,000.00 financial assurance mandated by the Arizona Department of Insurance and Financial...