If your Florida construction business has been impacted by COVID19/coronavirus, you might be eligible for a disaster loan to provide liquidity for your business. Florida is providing a short term (<1 year), $50,000 bridge loan at https://floridadisasterloan.org, which is helpful if you need cash now. If you can afford to look at other options, I [...]
"After a 40-0 vote, Florida lawmakers have passed a bill that will limit the amount of retainage that can be withheld from contractor payments on state and local publicly funded projects to 5%. If Florida Gov. Ron DeSantis signs the legislation, the new law will go into effect Oct. 1, 2020. Currently, contractors working on [...]
Heads Up! The FDOT requires that an annual financial statement prepared under Generally Accepted Accounting Principles (GAAP) be included with the contractor’s annual prequalification package this year. Before you have your CPA finalize your financials, make sure they are doing it on the required method. According to the article that the Florida Transportation Builders Association [...]
Whether you're contesting an error or combating fraud, Kiplinger put out a great guide on how to secure the best chance of success. "The three major credit-reporting bureaus—Equifax, Experian and TransUnion—have logged the most complaints for four years running, according to a report from the U.S. Public Interest Research Group. Most of the complaints involve [...]
There was a recent article on law.com that went into detail about how design professionals such as architects and engineers are exposed to significant risk and potential liability for errors and omissions in possibly more than just their designs on construction projects. It was an interesting article worthy of sharing…it stated “In addition to potential [...]
The Florida Surety Bonds team helped package 30,000 meals that will be distributed to local families in need through Feeding Children Everywhere and Full Cart! The domestic feeding arm of Feeding Children Everywhere serves the 45 million Americans living below the poverty line, including millions of children, seniors and veterans across the country. Our Florida Surety Bonds family had a great time collaborating on this project and encourage you to host your own Hunger Project to make an impact in your local community! www.feedingchildreneverywhere.com
Florida Surety Bonds, Inc. is proud to continue its support of the Central Florida Community by sponsoring a tent at the 7th Annual Schmid Foundation Golf Tournament on October 18, 2019. Susan Reich, Vice President of Florida Surety Bonds and Eileen Mazza of Schmid Construction Tested the Golfers' Paper Football Skills at this Year's Tailgate [...]
According a recent article on www.constructiondive.com, "a new study has found that slow payments are costing general contractors and subcontractors $64 billion a year. This is a $24 billion increase from the 2018 study from construction finance platform Rabbet." "More than 60% of subcontractors said they have chosen not to bid on certain projects if [...]
"All Around the World" was the theme of this years Expo and all the exhibitors came up with amazing booth designs. Our take on the theme was "Wild About Bonding" and it was great, so great our booth got 2nd place! Although this is always a team event, a big thanks goes to our Account [...]
The SBA is raising the minimum size for engineering, construction and other companies to be classified as "small". By doing so, it's expected the number of firms eligible for SBA Loans and set-aside contracts will increase. The thresholds will rise by about 8% from the current levels. The new standards will take effect on August [...]