Surprisingly, the answer is no. The surety’s first responsibility is to make good on the bonds issued. They have to deal with their obligations related to the performance and payment bonds. Their second responsibility is to conserve the assets of their surety. They actually have no obligation to finance any contractor. They may do so […]
According to figures released by the Associated General Contractors of America, raw material prices have risen 8.1% in the past year, while the price contractors have been able to charge for new nonresidential construction has risen by only two or three percent. In other words, in this tough economy, contractors have been forced to eat […]
The U.S. Treasury is scheduled to stop stimulating the economy in June, 2011 through the purchase of U.S. Treasuries. They will have completed a record stimulation by purchasing $600 billion by that point. What will happen if this stimulus suddenly stops?
Some think the stock market might drop after being “artificially” supported by the Treasury. Others […]
The new Women-Owned Small Business (WOSB) Federal Contract Program will be fully implemented over the next few months. This program will provide greater access to federal contracting opportunities. Check out www.sba.gov/wosb for more information.
According to Carr, Riggs, & Ingram, CPA’s, last year, congress passed legislation that would expand the mandatory filing of Form 1099. The provisions to do so were found in last year’s Patient Protection and Affordable Care Act (PPACA), and the Small Business Jobs Act (SBJA). What would you call a bill that would streamline the […]
We could speculate, but it is probably better to go right to the source for the answers. Here’s a link to the FDIC explanation of coverage for you. Give us a call if you have any questions.
Construction material prices had the largest monthly increase since July, 2008. Oil prices rose 14.8% in the month of March. Iron and steel prices also rose steeply during the month. According to the Associated Builders & Contractors’ economist, construction materials rose 4 percent over the past three months. Construction materials rose 6.9% over the past […]
In the event of a shutdown of the Federal Government at midnight on April 8, 2011, please be advised that the processing of applications and claims in the Prior Approval Surety Bond Guarantee Program, and the processing of claims in the Preferred Surety Bond (PSB) Guarantee Program, will be suspended for the duration of the […]