On July 31, 2017, the U.S. District Court for the District of Columbia issued a ruling in a reverse False Claims Act case that says bonding companies can be held liable for treble damages if they issue surety bonds to companies that try to defraud the government by falsely claiming to be a Service-Disabled Veteran-Owned Small Business (SDVOSB).
Construction growth continues to be strong in 2017 in most sectors. This growth is spurring the expansion of surety programs for healthy contractors who want to take on larger projects. One critical component in the surety – contractor relationship is the need for service specialists who know the construction industry. This includes CPAs and attorneys.
Most people think of bonds as a form of investment that’s capable of returning a high interest to the investor based on market fluctuations. But those are primarily investment bonds that have nothing to do with another form of bonds that are used in the business arena. Surety and fidelity bonds that are mentioned in the title of this article are a very part of these business type bonds. But […]
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