Holiday Schedule: July 4th
06/30/2008
Bryant Surety Bonds will be closed on Thursday, July 3rd for Independence Day Weekend; we will return on Monday, July 5th. We hope you all have a safe and pleasant holiday. While we are closed, please explore our website for information on surety bonds, and when you are ready, use our free online application. We look forward [...]
Mortgage Apps drop to over 6 year low?.Rates also Fall
06/25/2008
Mortgage applications for the week ended June 20 dropped 9.3%, the lowest since December 28, 2001.
Borrowing for a 30 year fixed-rate mortgage averaged 6.39% in last week, down 0.18 percentage points from the previous week, this is also below the average 6.60% of a year ago.
Many people are often confused by the idea that payment bonds and performance bonds are not the same thing. The reason for this confusion is that though different they are often written as one bond.
Payment bonds are a type of contract bond that assures completion of the obligee´s requirements in a satisfactory manner. This bond guarantees all participants (suppliers, subcontractors, and laborers) will be paid should the contractor default.
A performance bond guarantees satisfactory performance of all duties specified in the contract. Examples would the labor of all sub-contractors, suppliers, and payment of materials. The principal will require the performance bond once awarded the contract.
If you already know what bond you are looking for, please visit our application page. If you want to learn more about various bonds, visit our surety bond information page.
