What Do Financial Guarantee Bonds Have To Do With Ice Cream?
Flavors. The common theme is flavors.
Just as the number, scope, and use of ice cream flavors has dramatically broadened over time, the number, scope, and use of surety bonds and financial guarantees has also broadened.
What Is A Financial Guarantee Bond?
The term financial guarantee bond is an umbrella term that means “the guarantee of payment or payments on a financial obligation.” Or at least this is what the term meant in the 1970’s – just like there was only vanilla ice cream at one point in time.
Since the 1970’s, the term financial guarantee bond has taken on new meaning due to a demand for bonds that arose during investment transactions.
Mechanic’s liens are issues in favor of builders, contractors, subcontractors, or supplies who have furnished labor or materials for construction or improvement of a property.
If builders, contractors, and suppliers have not been paid, they can file a mechanic’s lien on the property as a method to ensure they get paid for their services and materials.
A mechanic’s lien attaches to the land and building. When a mechanic’s lien is issued, the property owner cannot do anything with the land or property.
All individuals or businesses who wish to engage in construction work in Utah must secure a Utah Contractor’s License. To do this, at least 1 individual must be selected to act as the license qualifier, which requires that person to pass the necessary license exams.
To get a Utah General Contractor’s License, you will need to complete an application, pass the necessary exams, register your business, secure insurance and a Utah Contractor’s Bond, and complete other required documents/processes.
The exact steps to get a Utah Contractor’s License are listed below. 
