Self-Insured Retention Plans

Self-Insured Retention Plans

Self-Insured Retention Plans often require security to be put up against the self-insured portion of the plan. Insurers agree to take a risk over a certain level, provided the company retains the risk below a certain level. Insurers are willing to do this because...
Surety Bond vs Letter of Credit

Surety Bond vs Letter of Credit

I recently had several situations where a client put up a letter of credit for an obligation that could have used a surety bond instead. A letter of credit is issued by and is the obligation of a bank. Many clients have a relationship with a bank, but not with a...
We Need Collateral!

We Need Collateral!

One of the favorite things surety bond agents love to say is either “No,” or “We need collateral.” If you approach somebody who does not know or is not familiar with this specific type of bond, the default is to say: No surety is writing this bond. We are...

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