What is a Surety Bond?
For us to understand the purpose and meaning of a surety bond, let us get to know more about it first. Surety bond refers to an agreement between three parties which are the Obligee (owner), the Surety (Guarantor) and the Principal (Contractor). This bond is commonly used in business most especially when it comes to the funding of the supplies and other business expansion. The main reason of having this bond is to make sure that the guarantor will pay the contractor in the event that the obligee fails to pay. That is why before approval is made, strict and through assessment and evaluation should be conducted to only give approval to companies that are highly qualified. You can log on to http://drsbonds.co.uk to learn more.
How are we assessed?
There are several criteria the need to be followed when it comes to the assessment process. One of the most important aspects that you should pass is the financial analysis. Financial analysis is very crucial and important because it is where we determine a candidate to either give an approval or not. There are also four areas that need to be checked to complete the financial analysis stage such as The balance sheet, income statement, cash flow analysis and the accountant’s opinion. It is in the balance sheet where the net worth of the company would reflect along with the debts, payables and the profits. The income statement would show the revenue of the company along with its profitability and the analysis report that would show the trend record of the said business. The cash flow analysis, from the word itself is simply the cycle of the expenses and the income of the company. On the other hand, the Accountant’s Opinion would reflect the financial standing of the accountant whether the company is in good standing when it comes to its finances or not.
Can I back out or cancel the bond instead?
Before you will sign the bond contract, you have to read thoroughly the stated agreement between you and the surety. However, most of the surety bond companies would not allow cancellation of the bond. You have to ask for the beneficiary’s approval instead not unless if the said agreement already expires.
Why do they ask me loads of information?
The agreement includes financial assistance that would approximately reach thousands. It is just right and proper for these people to ask pertinent data to make sure that they are dealing with a legit company that has a good credit score. Asking information can also be beneficial to you in order to double check the data that you have entered to avoid delay of approval because of several revisions to be made.
How long will I know the result of my application?
The processing of the application would sometimes vary depending on the problems encountered. If there are several revisions and corrections to be made, then surely it will take quite longer; but if not, it will directly undergo screening and evaluation that will not last for 3 to 4 weeks. If you would like to talk to an expert, do not hesitate to log on to http://drsbonds.co.ukread more
If you own a company, it’s important to protect its interests. One way to do that is through performance bonds, which provide funds for damages when contractors fail to fulfill their requirements as per their contracts. In the UK, there are various companies including http://drsbonds.co.uk but it can be difficult to find the right one. Here’s some information that can indicate a top-notch performance bond company:
1. Case Studies
It’s one thing for a performance bond company to make claims about how their products and services are better than the competitions’. However it’s quite another thing to see how they work. This is one of the benefits of case studies. It allows you to see specific ways that the company has provided performance bonds to companies. In fact, you might learn from the case studies that certain bonds would work effectively for your own company.
2. Glossary of Terms
This is helpful for people who don’t have a working knowledge of terms related to performance bonds. Many of the terms are very technical financial terms that most of us aren’t familiar with. You don’t have to be familiar with all terms in the industry, but it’s important to be familiar with the basic ones. This will help you to find the best performance bond for your company’s particular needs.
3. Contact Info
This is critical in today’s world in which people spend even more time than ever away from home. Contact information can include landline numbers, mobile numbers, email addresses, and so on. What’s important is that you as the customer have an open line of communication with the bond company, to ensure that you’re able to stay in contact about important issues.
A bond company’s website should include a list of its basic products and services. This is important to ensure which ones would be best for your company’s needs. Be wary about companies that include a limited list of products/services on their website, and especially if none at all are listed. It’s a red flag that the company might have some issues related to transparency. In fact, it could even suggest that the company isn’t legitimate. Make sure to inquire about any not included products/services on the website.
In today’s Information Age, it’s always helpful when companies with websites such as http://drsbonds.co.uk provide blogs that include news, opinions, and other relation information to the industry. Such information can be critical in terms of securing performance bonds and also being informed about developments in the industry that could affect your company. It’s always an interactive tool for you to keep in contact with the company, which is important in your company’s general operations.
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6. Social Media
It’s always important to get the newest updates from performance bond companies, which can include different types of information from social networks such as LinkedIn and Twitter. One of the keys benefits of such sources of information is that information is provided instantly, allowing companies and performance bond companies to exchange information quickly and efficiently.read more
It’s a very morbid conversation to have with your loved once but a last will and testament is one of the most important documents you could ever have. There are very few things in life that are guaranteed but death is one that happens to all of us and none of us know when this will happen. We cannot predict the time of death but we can make sure that when it does happen, our loved ones are going to be looked after.
To ensure that your belongings pass to the people without delay or argument, making a last will is as much about your wishes as your wealth. It means that you take the decisions about which of your possessions goes to whom, whether they are financial or simply sentimentally valued possessions. Making a last will is also about your beneficiary’s health as much as wealth. Usually everything is passed automatically to a spouse but dealing with death is so difficult and if you add any uncertainty or ambiguity at the same time then health problems can undoubtedly arise. Companies such as wiseman.co.uk can be there for you to help you set up a will and last testament. Where the deceased has not actually left a will, your family would have to choose a representative for you to approach probate to obtain a grant of letters of administration, ensuring someone is appointed as the administrator for your estate. Following this, the estate is then distributed under the rigid rules governing the Law of Intestacy. This law, which is laid down in the Administrations of Estates Act, applies irrespective of the amount of wealth a person owns at death. The law does not allow any opportunity to consider any wishes the deceased may have had, even if those wishes appeared obvious and written down other than by a properly executed Will. In fact, a Will that is written but isn’t executed properly could very well mean that the deceased has in fact changed their mind as to whom the beneficiaries should be.
Without a will being set up you cannot ensure your things go to the right place. If you don’t have a will set up, your money and assets can actually be passed directly to the Crown despite what you may say out loud. Your chosen executor who is appointed can apply for a grant of probate which frees your estate for distribution to your family in the exact way you have already decided in your will. Spouses may not automatically inherit all of your estate and it is important to be aware that the spouse of a deceased person who died intestate does not automatically inherit the whole of the spousal estate. Inheritance tax may be payable on your estate when you pass away and if in any doubt about it you should speak to a solicitor. Inheritance tax thresholds vary depending on your situation and anything worth above £325,000 – including money, property investments, but after deducting debts and funeral expenses – will be subject to 40% tax. You have six months from the end of the month in which death occurred to pay the tax and payments can be from any savings or investments available within the estate. Without that last will and testament you beneficiaries are left with the problem of obtaining a Grant of Letters of Administration and appointing an administrator in your absence to deal with disposing of your estate under the rules of intestacy.read more
The tax debt relief industry has seen dramatic growth over the past 5 years as many companies have entered the arena to offer help to taxpayers impacted by a sharp increase in IRS tax compliance enforcement. But lately, many of these so-called tax resolution firms have been making headlines for misleading consumers with deceptive advertising and false claims that they can settle taxpayers’ debt for “pennies on the dollar.” Consequently, many firms have been exposed for taking advantage of people seeking tax assistance. For a fee, they promise to help taxpayers, but instead leave them with their original tax debt, plus additional interest and penalties.
There are 3-main types of tax resolution service that can assist you.
Tax Attorney/Certified Public Accountant (CPA)
These are typically boutique companies that will be in your local area. They typically are the most expensive and also carry the best credentials. Make sure that they not only have the credentials, but they have experience in this niche part of the tax industry. Tax lawyers and CPAs can be very helpful if you have an extremely complicated situation if they specialize in this type of tax assistance.
National Resolution Firms
These companies typically offer less customized service and many times you will deal with junior associates on the phone and the person with the credentials is behind the scenes working. This type of company can be good for you if you can’t afford the tax attorney or CPA, but make sure you vet them carefully as there are many companies in this group that care only about their bottom line and not your tax resolution.
Software Based Companies
Just like filing your current tax year returns has been automated by software, so has the delinquent tax industry. There are fewer of these companies out there, but they can be a good solution for those who don’t have an extremely complicated situation, which is probably most of us. This solution is usually the cheapest but will require you to do more work. The software should walk you through the process from start to finish. If it doesn’t, keep looking.
Trust is a two-way street. Any hesitation by their representatives is a definite cautionary red flag that they don’t want you to know who is behind the company and ultimately responsible for your case If you can trust that the company will provide the services as promised in their agreement, they in turn must trust that you will pay them and begin working 100% for you upon receiving a “good faith” retainer. Most new companies (no matter what the business is) never make it due to a wide variety of reasons. In today’s difficult financial climate you don’t want to get stuck with a company that hasn’t been in business for at least five years. Otherwise, they might not even be in business six months from now.read more
Disinheriting a child is a sticky business and not something easy to decide on. All children in families should be treated equal but unfortunately there are those out there who have other ideas. In most cases after a death, children expect to take equal shares of their parent’s estate. There are occasions, however, when a parent decides to leave more of the estate to one child than the others or to disinherit one child completely. It’s a sad, complicated business that is full of grief and fighting and it is just depressing. However, companies like http://lawfriend.org have to do as their clients wish so it’s something that isn’t the easiest topic to raise but it is important to do so.
Unfortunately disinheritance of a child is not as rare as some may think, there are a lot of reasons for going through such a large and emotional step. A parent may exclude a child from the will because other children are more in need of assistance. For example, if the children are a brain surgeon, an undiscovered artist and a social worker, the parent leave everything to the social worker and the artist because the brain surgeon is able amply to provide for their own. While that doesn’t seem fair, because the child’s job shouldn’t mean they lose out on their inheritance, it does happen. A parent may have provided more assistance to one child than to other children during life, so if we use the example careers as above: if a parent put a brain surgeon through university and medical school and paid toward other training, the parents may feel that particular child has already received a huge chunk of the family wealth. This is a good reason to ensure that you either do that for each child or you disinherit.
A dependent parent may choose to leave all their belongings to the child who helped them through the worst times of their life. If in a family there are three children and two of the three haven’t bothered to visit or assist in any way, then the child who did in fact help out may end up inheriting everything as a sign of gratitude. If there has been a break in the family where one child is estranged from all the others, then this could also be a reason for disinheritance. While it is a difficult decision to make for the most part especially when grandchildren are involved, it is up to the person who writes the will to make that choice for the family.
The disinheritance of a child or children is not something to be taken lightly. It is an intensely emotional step on both sides and parents who make a will disinheriting a child may harbour feelings of guilt for many years, and even the rest of their lives. A child who doesn’t know about being disinherited until after the parent’s death may be devastated to learn of the parent’s rejection and feel like they no longer can gain the answers to it. A will doesn’t become effective until the testator dies and many things can take place during the interim period. It won’t matter if a parent reconciles with their child if they haven’t put their new wishes down on paper. Always, always speak to a solicitor.read more
Owing the IRS has become slightly less painful since they loosened the rules for people who are struggling to pay their IRS tax debts. The goal is to make it easier for individuals and small businesses to pay back taxes and to avoid IRS tax liens. The IRS’ new rules are part of its ‘Fresh Start’ programme now available. If you qualify, the Fresh Start can help you with IRS tax forgiveness, a reduction in IRS tax penalties and a reduction in the amount of paperwork you need to provide the IRS. The most important part of this new programme apply to IRS instalment agreements and the Offer in Compromise programme. If you owe more than fifty thousand dollars in tax debt you are required to submit an IRS collection information statement.
You can also pay down your debt to fifty thousand dollars so you qualify for the streamlined instalment agreement. The Offer in Compromise programme is one that allows you to settle your tax debt for less than you owe if you can prove to the IRS that you cannot afford to pay back the debt. The Fresh Start has relaxed the rules for qualifying for an Offer in Compromise which has expanded the number of taxpayers who are eligible to qualify. The IRS will now look at two years of future income for most Offers in Compromise instead of calculating projected future income over the entire time remaining to collect on the tax debt, which could have been as long as ten years. You can now have the monthly payment you make on your federal student loans counted as part of your monthly allowable living expenses, as long as you can supply proof you are making the payment. Your monthly payment to pay delinquent state or local taxes may now also be recognised as an allowable living expense.
An instalment agreement gives taxpayers who owe the IRS and are unable to immediately pay, the option of paying over time. The Fresh Start programme has made it easier for taxpayers to qualify for a streamlined instalment agreement. In order to qualify you must set up a monthly direct debit payment and have your tax returns filed up to date. Companies such as http://www.platinumtaxdefenders.com can give you advice on how to set up a payment plan and guide you through the paperwork required to set up instalment agreements with the IRS. If you owe fifty thousand dollars or less you can qualify for a streamlined instalment agreement. Under the old rules, you could not owe more than twenty five thousand dollars. The main advantages are that you pay less in penalties, interest continues to accrue on the debt but the late pay penalty is greatly reduced. You don’t have to submit your full financial information to the IRS in order to qualify and you have six years instead of five to repay your tax debt.read more
Are you planning to lease a car or truck? There are tons of companies to choose from including http://www.discounted-new-cars.com. It’s important to make sure that you’re choosing the right company for your particular needs. There are various issues to consider and here are some of the main ones:
Make sure to consider choosing a leasing company that’s received mostly good reviews. For example, sometimes you can find customer testimonials on leasing companies’ sites. This helps to provide feedback about the company.
Make sure to get the consensus of the company. There might be a few disgruntled customers. What’s important to get the general idea about the experience people have had dealing with the company. It would be a red flag if a large percentage of past customers had a negative experience.
In the case you want to purchase a vehicle instead of leasing it, then it’s important to consider the financing offered by a company. That will help to determine whether or not you should do business with the company. It’s always better if there are more rather than fewer options for leasing a car or van. This will make the process easier, since you’ll have more options.
This is a key feature to look for because of companies such as http://www.discounted-new-cars.com. This can help you to save a substantial about of money on certain makes and models. That’s always a plus because it helps to reduce the total cost of the leasing. That’s certainly a plus if you want to reduce the total cost of the leasing.
In fact, you might even consider leasing a vehicle that wasn’t your first choice. It might not have all the features you’re looking for but could be worthwhile regarding savings. Always make some price comparisons before deciding whether or not to go with a different make and model.
It’s important for leasing companies to provide no-obligation quotes. This will give you an exact figure regarding leasing a vehicle with a certain make, model, and year. There are other steps you should take before making your final decision, but without knowing the cost of leasing, you could end up making a bad choice.
This is one of the main issues to consider when choosing a car-leasing company. For example, consider whether domestic and foreign brands are offered. If you’re looking for certain makes, models, and features, those are other factors to consider. Are you in the market for a green car? If so then make sure the company is also offering electric vehicles and plug-in hybrids.
IT’s also important to consider the amount of experience a vehicle-leasing company has. For example, some companies are startups, and others have decades of experience in the auto industry. The latter is a better option because it will help to make sure you’re getting the best possible service.
Do some research to find out some general information about the company. In particular, watch out for red flags such as many complaints or making headline news for the wrong reasons. Buyer beware!
Not a lot of people these days are keen on the idea of buying a brand new van. While it is certainly the ideal route to take considering all the excellent specifications of the vehicle and how it is still in it peak state, many tend to get turned off by the fact that they can be quite expensive. While they would be the first choice for people who have the funds, used van deals would be the first option for those with limited money. Check out http://www.discounted-new-cars.com.
Regardless, though, you still want to get the best that your money can get you as far as a used unit goes. It is a good thing though that the law provides protection for buyers like you. Sellers of these vehicles need to make sure that the vehicle is of satisfactory quality and that it is not a unit that is not roadworthy. It does help a lot when you are well aware of the many things that you have to look into, so the unit you do end up getting is not going to be a disappointing choice.
You need to establish your need. Determine exactly why you want to get the van in the first place. It is always going to be a lot easier for you to pick the right unit when you know what you are looking for. How you expect to use the vehicle and how you can find one that is exactly a representative of these needs. You can even create a checklist of the things that you would expect from the vehicle to help guide you in the choice that you are making.
Set your budget. You need to know exactly how much you can afford. The best thing about these used units though is that they tend to be offered at a considerably affordable rate when compared to the brand new ones. Still, the price can be quite substantial still. So, it is best that you know how much you are willing to spend and set limitations if needed to what you will be willing to invest when getting the purchase done.
Decide where you want to buy the vehicle from. Since you are interested in getting a used unit, it is advised that you will get one from a dealer. This is because you are given due legal protection when you will decide to make the purchase from one. They are, after all, obliged legally to sell vans that have satisfactory quality. This means that while most of their vehicles may have had wear and tear written all over, the dealers have to be sure that they are selling units that do not have any defects except those that are pointed out to their customers.
This maps the case when you buy from a private seller, though. There is going to be o legal comeback for you if the van will have legal defects. But they do tend to offer a much lower price when compared top the dealers. Weighing in on the pros and cons of these choices will certainly help you choose the right. Visit http://www.discounted-new-cars.com to see more van deals.read more