A common question asked of my office is where is the collateral held. First, let us go through the four types of collateral. 1. Cash Deposit When you are depositing cash, it is wired to the surety company, which holds it pending the resolution of the matter. The cash...
Today, I would like to discuss what are commonly referred to as Site Improvement bonds. Sites that are being developed by a real estate entity, especially those that need to be hooked up to either the electric grid or the water system of a municipality, or a new...
A Receivership Bond is created when a company, but more commonly a piece of real estate, is in dispute. For example, a dispute could occur between the bank and a real estate owner if the bank is not receiving mortgage payments. If the property has tenants, these...
