Bonding/Insurance

 

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“Bond” is another word for “promise.” In business, a bond is a special type of contract, where another company (known as a surety or bonding company) provides financial assurance to third parties that you will keep your promises. If you break your promise, then third parties can pursue their claims against the bonding company, which will pay the third parties and then pursue you for damages.

Bonds are commonly found in the construction industry, where you may need a bond before signing your construction contract. The bonds will assure that you complete your work and that you will pay all of your employees, subcontractors and suppliers. In other businesses, you may have fidelity bonds, regulatory bonds or bid & supply bonds.

At DailyGC™, our small business lawyers have extensive experience with bonds, sureties and the indemnity agreements on which they are based. We can help you to make sure that you understand the obligations that you are undertaking, and we can help you to negotiate the indemnity contract with your surety. You always want to avoid a personal guarantee, if you can.

We also have extensive experience pursuing claims with insurance companies. If you’ve had a substantial insurance claim in the past, then you may have felt that insurance companies are in the business of collecting premiums, but not necessarily paying claims. We can review your insurance policies with you and make sure that you are meeting all of the conditions and requirements for prompt payment of insured claims.

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PRIORITY ISSUES DESCRIPTIONS
At DailyGC, we provide legal advice and counsel on the full range of legal problems and legal-related business issues that small businesses and startups routinely face in their management, sales, operations and administration. The following are examples of these kinds of problems. You may use these descriptions on your Priority Issues Identifier Form� or you may write your own descriptions.
Business Contracts and Relations:
� Customer Contracts and Disputes
� Vendor Contracts and Disputes
� Collections
� Bank/Lender Relations and Issues
� Landlord/Tenant Relations and Issues
� Bonding/Insurance
� Nondisclosure and Confidentiality Agreements
� Procurement and Management of Outside Counsel
Employment:
� Recruiting/Hiring Practices
� Employment Agreements
� Employee Compensation and Benefits
� Employee Manuals, Policies and Procedures
� Compliance with Government-Required Benefits Programs
� Payroll Compliance with Court Orders
� Discrimination and Harassment Claims
� Management and Discipline of Problem Employees
� Terminations
� Unemployment Insurance Claims
� COBRA Procedures
� Hiring Independent Contractors
Dispute Resolution:
� Case Analysis and Assessment
� Mediation/Arbitration
� Strategies for Litigation, Discovery and Negotiation
� Settlement Analysis
General Corporate:
� Entity formation
� Corporate Governance and Record-Keeping
� Shareholder Relations
� Compliance with Governmental Regulations
� Compliance with Corporate Contractual Obligations
� Contract Review, Analysis and Negotiation Coaching