Permit Bond Legislature Protects Shoreline and Hearing

Written by JoAnn Smith on March 31st, 2014. Posted in Bond Types, Hawaii, Latest News, Legislation, License and Permit Bonds, Surety Bond Blog, Washington

     permit bond legislature, permit bonds      
Hawaii shorelines need permit bond legislature protection
Permit bond legislature in Hawaii and Washington State is under consideration for two bills that protect taxpayers in very different ways. One of the bills will go a long ways towards helping people in Washington be assured that the hearing aide specialist they see is qualified to fit them correctly for their hearing aids.
 
Meanwhile, in Hawaii those taxpayers that love and enjoy the shoreline will be happy to know that they may well see an increased requirement for anyone who wants a permit for changes made along the shoreline that includes grading or removal of materials.

Washington Permit Bond Legislature

The Pacific Northwest state is considering legislature with House Bill 2108 that will create some new requirements for trainees interested in becoming a hearing aid specialist. Washington expects to have an increase in the senior population and those seniors prone to having a longer life. The result is that hearing aid specialists are being seen as a growth industry that will probably struggle to find enough qualified specialists to fill the need. Because of the growth of apprenticeships in the industry, Washington State is looking at permit bond legislature that will require apprentices to post a permit bond for a minimum of $10,000 as part of their licensing process to become an apprentice hearing aid specialist. The apprentices will be subject to all of the current laws regarding anyone who specializes in fitting and dispensing hearing aids.

Shoreline Protection in Hawaii with Permit Bond Legislature

Everyone knows that the shoreline of Hawaii is one of their biggest treasures; bringing in thousands of tourists each year. However, along with that natural beauty is the need to protect it when developers come along who want to change it in order to make it more accessible. As part of that change, many will seek permits to “grade and grub”, a process that removes trees and other vegetation and debris in order to create a level grade for seawalls and other structures when building near that shoreline. With the passage of House Bill 1537, a permit will be required to do this kind of work along any Hawaiian shoreline. This legislature will also require a permit bond, the amount to be determined at a later date.

Getting the Right Permit Bonds

As you can see from these two bills, permit bonds are becoming a popular way for state governments to create a certain level of control over the development of both human resources and physical infrastructure. This is why we are seeing an increase in the requirement of permit bonds for many types of business. If your industry is seeing changes in the form of new permit bond legislature, don’t get caught unprepared. Our fast and friendly customer service representatives can help you find the right kind of surety bonds, from permit bonds as part of that permit requirement to bid bonds to help you get the right project on time. BuySurety has been providing a wide array of businesses with the surety bonds they need to compete successfully for over two decades. Find out how quickly we can get you bonded at BuySurety today.

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Commercial Surety Bond Legislature for Debt Management Services

Written by JoAnn Smith on November 26th, 2013. Posted in Commercial Bonds, Finance Bonds, Hawaii, Latest News, Legislation, License and Permit Bonds, Lousiana, Massachusetts, New York, Pennsylvania, Surety Bond Blog, Washington

Debt Management Services
Recent surety bond legislature for debt management service companies has been sweeping through several states. With the increased regulation of all banking services, it isn’t surprising that many states are looking more closely at this sub-set of the financial industry with a bit more scrutiny. Massachusetts and Pennsylvania have both passed new regulations regarding these services and a few other states have had similar bills defeated that will probably circle back around soon for another attempt at further regulation. For a closer look at all the changes regarding these industries, here are the details:

Massachusetts Surety Bond Changes

After sitting in the House for several months, House Bill 875 has finally been sent to the Senate Ways and Means committee as H3569. It looks likely to pass and will require all debt management service companies to post a surety bond as part of their licensing requirements. The amount of the bond will be determined at the time by the Commissioner of Banks.

Pennsylvania Debt Settlement Service Providers Bonding

In a bill that will see the posted bond run to the Commonwealth for its benefits, Pennsylvania has decided on a $25,000 credit services bond requirement. This will be part of the new licensing requirements for debt settlement service providers and will also oblige that the bond run for the length of the license. An additional $25,000 penal bond will also be required as part of the licensing procedure.

Growing Movement toward Surety Bonds

Although they were defeated in legislature, there were bills for the requirement of licensing and the posting of surety bonds for all debt management service providers in Hawaii, Louisiana, New York and Washington. This marks a definite trend towards the institution of surety bonds as a licensing requirement in this industry in the coming years.

Find All Your Surety Bonds Here

Many businesses that serve non-traditionally in the financial sector may find they will suddenly be required to post a surety bond in the coming years. If your business is considering the move to posting a surety bond as part of their licensing requirements, don’t get caught without them. We can supply any kind of surety bond for any industry in all fifty states. Contact our offices or visit our BuySurety website and find out just how easy it is to get the surety bond your industry requires, regardless of your credit rating or years in the industry.

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Car Dealer Bonds for California, Oregon and Washington

Written by JoAnn Smith on November 1st, 2013. Posted in California, License and Permit Bonds, Motor Vehicle Bonds, Oregon, Surety Bond Blog, Washington

     car dealer bonds
Find out the car dealer bond requirements for your state.
A car dealer license and the car dealer bonds that are part of that license are an integral part of doing business no matter what state you decide to open your car dealership in. But, the regulations and more importantly the surety bond amounts differ from state to state. Do you know what the requirements are for car dealer bonds in your state? Let’s take a look at the three states that border the Pacific Ocean to begin our overview of the requirements for car dealer bonds for auto and vehicle dealerships in each state of the union.

Washington State Car Dealer Bond Requirements

The Evergreen State is well named, for if you have ever driven through it the bounty of endless trees can be overwhelming. But in a state that has beaches, mountains and a world-famous city like Seattle you can expect to see plenty of car dealerships. Here is what you would need to have in place regarding car dealer bonds for a vehicle dealership in Washington State:
  • To sell new and used motor vehicles retail or wholesale or at auction – Requires a $30,000 New and Used Motor Vehicle Bond or Auto Dealer Bond
  • To wholesale to licensed dealers for used cars, trucks and motor-homes – Requires a $30,000 Motor Vehicle Dealer or MVD Surety Bond
  • For selling any new or used non-motorized mobile home, manufactured home, tent or park trailer and travel trailer – Requires a $30,000 Mobile Home Dealer Bond
  • To sell motorcycles, off-road vehicles, boats, horse trailers and other miscellaneous new or used vehicles that are not motor vehicles, mobile homes or tent/travel trailers – Requires a $5,000 Miscellaneous Vehicle Dealer Bond

Oregon Car Dealer Bonds

While Washington can be picky about the kind of car dealership you want to run, The Beaver State is a more generous state and only requires that you have a car dealer bond if you sell motor vehicles period. That makes it pretty easy for anyone who is considering opening a car dealership in Oregon as there is only one kind of car dealer bond they will need: For all car dealerships, new and used regardless of what else they sell – A $40,000 Motor Vehicle Dealer (MVD) Bond is required.

California Auto Dealership Requirements

If you have ever driven through California in August you would know why it is called The Golden State, for its hills have a golden haze to them waiting for the rains to begin. With its abundance of cities and cars, it is not that surprising that California has several types of auto dealer bonds depending on the type of vehicle you plan to sell:
  • For new and used retail sales of all vehicles except motorcycles and All Terrain Vehicles (ATVs) – a $50,000 Retail Motor Vehicle Dealer Bond is required
  • For wholesale sales of all vehicles except motorcycles and ATVs – a $10,000 Wholesale Dealer Bond is required
  • For retail or wholesale sales of motorcycles and ATVs – Posting a $10,000 Motorcycle or ATV Dealer Bond is part of the licensing process
  • In addition, California may require a $25,000 Registration Service Bond.

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Washington Surety Bonds Hiring Requirements

Written by JoAnn Smith on May 17th, 2013. Posted in License and Permit Bonds, Surety Bond Blog, Washington

     what is a surety bond, contractor bond, construction bond
Surety bonds ensure Washington residents are first choice
April 17, 2013 – Washington State has introduced into the House Committee on Labor and Workforce Development House Bill 1026, a new surety bond related legislature. This bill would require the posting of a surety bond to guarantee at least 75% of the work force on any public works contract would be Washington residents. If these requirements were not met there would be an attendant penalty of a minimum of $1,000 per Washington resident that was displaced by the out of state hiring. It could also penalize for 20% of the current prevailing wages that would have been paid to a Washington resident if they had been hired. The first penalty that was not paid would be seen as a lien against the surety bonds that are posted by the company and the amount would be retained for the duration of the project until the penalty is paid. If there is a second violation the contractor would be barred from all future government project bids for the next two years. The Senate saw the introduction of a similar bill a few weeks after House Bill 1026 was introduced, and that bill is currently in review with the Senate Commerce and Labor Committee. Both bills are currently stalled in their respective committees and it is unclear if either bill will pass into law this year. To check on the current movement of House Bill 1026 or Senate Bill 5394 in legislative committee, be sure to click on the links we provided.

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Surety Bond Legislature Update for Washington

Written by JoAnn Smith on April 29th, 2013. Posted in Legislation, Performance Bonds, Surety Bond Blog, Washington

     Washington state surety bond legislature
Mt. Ranier in Washington State
The State of Washington legislature passed two bills in the year 2012 that affected the posting of surety bonds. Both bills were passed in the House. The first bill concerned the definition of a surety within the Washington Uniform Commercial Code.   The second bill provided a way for companies who were frequent bidders on contracts with procurement agencies to provide one annual performance bond instead of individual bonds for each bid.      

House Bill No. 2197: Uniform Commercial Code

With the passage of Washington House Bill 2197 amendments to Washington’s Uniform Commercial Code have been made. It will now conform to the Restatement of the Law of Surety that was issued by the American Law Institute.   One of the revisions in this code is the definition of a surety has been changed to include other secondary obligators in addition to the current definition of a surety bond as a guarantor. This bill was enacted on March 30, 2012 and went into law on June 7, 2012. For a look at the complete text for Washington House Bill 2197 please be sure to follow the link provided in this summary.  

House Bill No. 2452: Annual Performance Bonds

The passage of Washington House Bill 2452 will allow bidders who frequently enter into contracts with procurement agencies the ability to present an annual performance bond instead of the individual surety performance bonds they now provide. The amount of the annual performance bond will be established by the procurement agency.   This will be in addition to the current practice of allowing the use of annual bid bonds in place of individual bonds in Washington. The bill was enacted on March 30, 2012 and went into law as of January 1, 2013. Anyone wishing to read Washington House Bill 2452 in its entirety can do so by using the link provided in this bill summary.  

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