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Philadelphia Surety Blog

Tag: General

Surety Trivia

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Sep 9, 2016.

Surety contracts have become a signficant part of the construction marketplace; and there is a plethora of law surrounding how they work.  But can you guess the oldest known reference to suretyship in a written legal code?

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Celebrating Labor Day

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Sep 5, 2016.

Wishing all those who work so hard to help build this country and make her great a wonderful Labor Day. Thanks for all you do and for letting Kaplin Stewart be part of your great industry.

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Get Ready For Our Fall Seminar Series!

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Jun 16, 2016.

On the heels of our successful Spring Seminar Series, Kaplin Stewart’s Construction Law Group is in the process of planning its next program offering. Our Fall Seminar Series will follow a similar set-up to our Spring Seminar Series and offer some great new topics. We will have another announcement in the near future with more details, but here are some of the particulars.

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Subcontractor Default Insurance Versus Surety Bonds

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Jun 13, 2016.

Although it’s hardly a new product at this stage, the introduction of Subcontractor Default Insurance (“SDI”) is much more recent than the use of surety bonds. Many of the very large general contractors are now using SDI because it allows them to control the claims process a bit more. These policies, while useful, should not be confused with surety bonds though. There are some important distinctions between the two that are worth noting.

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On Memorial Day, We Remember

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on May 30, 2016.

At Kaplin Stewart, we recognize that America is great because of the people that serve her and its people. Those who work in the military, the police, and as firefighters are among our nation’s finest. They put their lives on the line every day to protect us all – asking for very little in return. Some – who we especially remember on Memorial Day – pay the ultimate sacrifice by laying their lives down in the line of duty. For that, we are eternally grateful. We could never repay that debt. Thank you for your service and sacrifice.

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Can a surety be liable for violation of the bad faith statute in Pennsylvania?

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Apr 20, 2016.

The issue of whether a surety can be liable for violating Pennsylvania’s bad faith statute is one that often comes up in construction cases. Aside from the fact that bonds – and thus sureties – are most commonly found in construction cases, the remedy of treble damages and attorneys’ fees (mostly the second part) are attractive to litigants. Although there is very limited case law on the issue in the Pennsylvania courts, the answer to the question is presently no.

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Villanova Was Philly Strong

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Apr 5, 2016.

The City of Philadelphia and its people take a great deal of pride in any number of things – and rightly so. From great food and fantastic culture to a history older than America itself, there is so much to appreciate about the place we call home. But ask any Philadelphian what they are most proud of and they will tell you, perhaps in their own way, it’s the City’s indomitable spirit.

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What Do Surety’s Review When They Decide Whether They Will Bond My Company?

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Mar 28, 2016.

In a prior post, I mentioned that the process of obtaining a surety bond is often used as method to determine whether a contractor has the working capital to perform the work under the contract. This “benefit” has a direct correlation to the information a surety company reviews before it will agree to bond a company.

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Did You Know?

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Mar 23, 2016.

Zurich North America is among the largest surety companies in the construction business. The company is best known for its ability to bond very large projects, including the work to expand the Panama Canal as dramatized in a widely run 2012 television commercial. The company has been around for over 125 years; and, as a result, it has also been involved in other famous projects like the Hoover Dam and the Chesapeake Bay Bridge Tunnel.

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What’s the difference between a bond and insurance?

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Mar 21, 2016.

As we kick off our construction surety law blog, let’s start with some basics. Among the most important things to understand about bonds is that they are not insurance. Many owners and contractors consider them to be the same things and often confuse the two when it is time to make a claim. Surety bonds and insurance policies are, however, not the same things.

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