Archive for June, 2014

License and Permit Bond for Missouri Pesticide Applicators

Written by JoAnn Smith on June 30th, 2014. Posted in Commercial Bonds, Latest News, Legislation, License and Permit Bonds, Missouri, Surety Bond Blog

     license and permit bond      
Pesticide application companies need license and permit bond coverage in Missouri
Missouri legislature has passed a bill through its House and moved it on to its Senate that will affect the license and permit bond coverage required for anyone involved in pesticide application in Missouri.While there has always been some type of requirement for pesticide application businesses, this bill would clarify requirements and set surety bond amounts for all businesses that fall into this category.
 
Missouri House Bill 1954 was introduced and read to the House in February 2014, passing through various public hearings, adopted and then passed on to the Senate on April 29, 2014. It currently is with the Senate Agriculture, Food Production and Outdoor Resources Committee.

License and Permit Bond Changes

This new requirement concerns the ability of anyone applying pesticides in a commercial venture to be able to prove financial responsibility should legal damages occur as a result of the operation against the business. The law states that upon the receipt of the business license the certified commercial applicator will be required to provide evidence of financial responsibility in the form of a license and permit bond or other surety bond within ten working days. This requirement will be renewed annually, along with the license.

New Permit Bond Amounts

With this new requirement, commercial pesticide applicators will be required to post a bond in the amount of no less than $25,000 for property damage as well as for bodily injury. Each permit and license bond will be required to be posted separately. Bonds must be maintained at the place of business and available for inspection during regular business hours upon request.

Get Your License and Permit Bond Today

The world changes fast and laws change even faster. While not every business is required to carry a license and permit bond, more and more of them do as laws change. Do you know if your company should get bonded? If you have a business that requires a license or permit, you should be sure you are covered. Visit our website or talk to one of our knowledgeable customer service reps today to find out how fast and easy it is to get your license and permit bond for you business from BuySurety today. Get your business bonded and be sure with BuySurety.

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A Windy Compromise with Performance Bonds in Illinois

Written by JoAnn Smith on June 26th, 2014. Posted in Contract Bonds, Illinois, Latest News, Performance Bonds, States, Surety Bond Blog

     Performance bonds help guarantee wind farms      
Performance bonds help guarantee wind farms
With new technology, come new ideas and the problems that come with them. Sometimes that includes wind farms in places like Illinois and the possibility performance bonds might be needed to cover the costs of decommissioning. While no one wants to consider the possibility of a project like the giant wind farm called Big Sky being decommissioned, it can happen. The question being posed by Ed Geres, an opponent of wind farms in general and Big Sky in particular, is who pays for decommission when it happens?

When Big Sky Comes Down

While Geres may have brought up the question at a local county commissioners meeting, it is not unusual for local landowners who have a stake in the outcome to ask, who will pay for the price of decommission of wind farms when they happen. Geres says that his research has shown that the cost of decommissioning Big Sky would fall in the $10-12 million range. If nothing is done and decommission happens, this cost could end up in the lap of local taxpayers. Worse yet, it could end up being the responsibility of the landowners where the turbines now reside. He is proposing the utility company that owns Big Sky take on the responsibility of a performance bond to cover the cost of this. The question is, are they required to and if not, will they take it on?

Performance Bonds Role for Decommissions

While it may not be common to see a performance bond used to cover the foreseen cost of decommissioning a wind farm, this is not that different from using a performance bond as part of the requirement for oil well and water wells. Many states require a performance bond to cover the cost of capping or closing oil wells. The southwestern states often have county regulations that require a performance bond be posted before a license will be granted for drilling water wells in areas where the water table is threatened. While wind farms are a relatively new development, this call for a performance bond to cover expected costs for taxes and decommissioning may in time simply become law. Until then, it looks like Illinois will be exploring their options on a performance bond for Big Sky and seeing what it takes to enforce it.

BuySurety Offers Performance Bonds

Sometimes we find we need a surety bond such as a performance bond in the most unexpected of times. When your needs change, be sure to be ready by having a quick link to BuySurety to take care of all your surety bond needs. From administrator bonds to yacht salesman bonds and everything in between, BuySurety has what you need when you need it. Come by our site or call one of our knowledgeable customer service reps and find out just how fast and easy it is to get bonded with BuySurety today.

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New York Bill Would Require Insurance Fund Bond for Oil Carriers

Written by JoAnn Smith on June 23rd, 2014. Posted in Commercial Bonds, Freight Broker Bonds (ICC Bonds), New York, Surety Bond Blog, Warehousing Bonds

     insurance fund bond      
Disasters like this are covered by an insurance fund bond
With the memory of the recent disaster in Quebec still fresh in many minds, lawmakers in Albany New York have introduced a bill that would require all petroleum bulk storage facilities as well as any company transporting such materials to have sufficient insurance fund bond coverage.
 
While it cannot avert a disaster like the one in Quebec it could assure that taxpayers were not left holding the bill after the dust settled. The amount of coverage that would be required has been increased that would cover all decontamination and cleanup after such a crises.

Covering the Cost of Disaster

As more cities are seeing an increase in the amount of rail traffic that includes dangerous and toxic material travelling through highly populated areas, an increased need for some assurance that the high costs of recovery will be handled by the companies responsible. This is why the recent Assembly Bill 9926 was introduced in the New York Assembly. This bill will increase the amount of the required insurance fund bond that all companies must have if they store petroleum products in bulk storage facilities.

A Surety to Cover All Contingencies

Whether you are a company that moves dangerous materials or a truck broker that moves goods of all kinds, having the right surety bond coverage is an important part of business. With new laws coming into play each year, it is important to stay on top of the latest regulations in any business that deals with dangerous goods. You can find out the latest news on this blog or ask our informative and friendly BuySuretycustomer service staff about your surety bond coverage. From insurance fund bond coverage to basic license bonds, we can help your company find the surety bond you need today.

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Texas and Kentucky Invoke Surety Bonds to Complete Projects

Written by JoAnn Smith on June 19th, 2014. Posted in Contract Bonds, Kentucky, Performance Bonds, Texas

     surety bonds for construction      
surety bonds for construction
As the economy begins the long slow climb to recover, projects that were left uncompleted are quietly seeing the path to completion, thanks to the surety bonds connected to the projects. Whether it is a nature center for Weslaco Texas or a roadway in Vanceburg Kentucky, surety bonds are pulling their weight to get the jobs back up and running.

Texas Nature Center Restarts Construction

With accusations of fraudulent billing and subcontractors unpaid, the construction of the long awaited Weslaco Valley Nature Center ground to a halt last March. Luckily GAS Contractors was bonded and those surety bonds were used to continue construction once an assessment of the problems was completed. Subcontractors will need to file a lien on the surety bonds that GAS put into place in order to get paid on outstanding invoices, but the work will continue with a new general contractor in place. Since most of the outside work had been completed before work halted, the new contractor expects to complete the project within the next two months.

Surety Bonds in Place for Road Completion in Kentucky

Surety bonds will play another role in the completion of road work in Lewis County Kentucky on the Straight Fork Road. The contractor had asked for an extension of the original October 31st deadline, but even with that extension it was obvious that BRC Group would not be able to complete the project. They were expected to return to work on March 3rd but no word has been heard from them to this date. When a certified letter informing the company of their impending default on the project was returned, other plans were put into place. The surety bonds on the project will cover the remaining costs for gravel and blacktop work, expected to be completed soon.

Performance Bonds Guarantee Completion

As is obvious from these two examples, surety bonds such as a performance bond can be invoked to pay for the completion of a project when a contractor is unable to meet their obligations. Since just about any government-funded project will require surety bonds such as a performance bond, finding them fast and within your budget can be a key to landing that next project. Don’t take chances with your next project. BuySurety has fast and friendly customer service folks who can find you the right surety bonds at the best price. Come by our site, talk to our reps and know that with BuySurety you will always have the solid security of surety bonds to back you up on that next project.

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Foreign Labor Consultants in California Get Bonded

Written by JoAnn Smith on June 16th, 2014. Posted in Bond Types, California, Latest News, License and Permit Bonds, Surety Bond Blog

     foreign workers consultants get bonded      
foreign workers consultants get bonded
With the demand for foreign labor higher than ever, California is considering legislature to further regulate the hiring practices for foreign workers. It has passed a bill through The Senate that is now under consideration of The Assembly regarding how foreign labor consultants are regulated. It will include the introduction of a requirement for all foreign labor consultants to get bonded as part of their registration with appropriate state authorities in addition to the current licensing.
 
The hopes is that this new legislation will help the state to control the rampant use of illegal immigrant workers and at the same time protect casual labor from exploitation by unregistered foreign labor consultants.

Contractors Told to Get Bonded

Once passed, California Senate Bill 477 will require all foreign labor consultants to register with a state agency. Part of this registration will include the payment of a surety bond based on the contractor’s projected annual income. State agencies will then post the names of all foreign labor contractors that have applied to get bonded as part of their registration. Employers can use this site to ensure that contractors they hire for casual labor are registered and bonded with the state. Hiring of unregistered foreign labor contractors can result in penalties for the employers as well as the contractors.

Penalties for Using Unregistered Contractors

Once passed, this legislature will ensure that anyone who wishes to hire foreign casual labor can do so knowing that the contractor they work with has been registered with the state. The surety bond that the contractor has posted will ensure that workers have a way to bring their grievances to the state for illegal practices such as paying fees to a contractor for hiring them or charging housing and other illegal costs to the foreign laborer.

Get Bonded with BuySurety

While not every state requires foreign labor contractors to get bonded, it is a good idea for anyone considering this type of business to check the local requirements. BuySurety can provide surety bonds such as Employment Agency Bonds, License and Permit Bonds or even a Registration Service Bond, depending on what your state requires from your business. With over 20 years of experience and nationwide coverage, BuySurety can provide the kind of surety bond you need to get bonded quickly and stay within the law. Contact our helpful customer service through our website now and find out just how fast and easy it is to get bonded today.

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