Items tagged with "Surety"

Standards to Automate Processing for Contractors, Agents & Sureties

3:00 PM EDT Wednesday, March 29, 2017
XBRL US Webinar
Register for FREE Webinar

The Work-in-Process (WIP) report and other financials can be delivered in useable form directly from contractor to surety eliminating manual rekeying of data, improving timeliness and access to credit for contractors. Financial data standards can automate the process. Join this webinar to view demonstrations for creating and consuming XBRL-formatted WIP reports.


WIP/Surety Working Group

The WIP Working Group is responsible for standardizing data in Work-in-Process reports and promoting the use of these standards for data collection in the surety underwriting process.


XBRL US Surety Working Group Publishes WIP Taxonomy Release and Business Case

Data standards in surety underwriting will improve efficiencies, accuracy and timeliness The Surety Working Group formed under XBRL US announced today the completion of the Proposed Recommendation of the Work-in-Process Taxonomy, a digital dictionary of terms to describe reported values for costs, revenues and gross profit used to identify risks and determine eligibility for surety […more]


2016 Surety Work in Process Taxonomy

The 2016 XBRL WIP Taxonomy (Taxonomy) contains concepts for Contractors to prepare Work in Process reports to submit to Surety insurance companies. We encourage all interested parties to review and provide feedback.


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Surety WIP Taxonomy Public Review Terms & Conditions

In order to provide comments that will be considered by XBRL US as part of the Public Review process for the Surety WIP Taxonomy, you must agree to terms and conditions for public comment. By completing the form below with valid name and email information and clicking “I agree to the terms for public review […more]


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Work in Process Taxonomy Legal Notice

Notice Authorized Uses of this Document Copyright © 2016 XBRL US, Inc. All Rights Reserved The “Work in Process Taxonomy” may be used by the public, royalty-free and may be incorporated without change in other works that comment on, explain, or assist in the use or implementation of the XBRL US Work in Process Taxonomy. […more]


Surety

Surety providers review the contractor’s financial statements to identify risks and determine eligibility for surety bonds. Financial statements include a Work in Process (WIP) report that describes the financial performance and status of a contractor’s construction projects. Today’s surety underwriting process is highly manual and therefore, labor-intensive, time-consuming and costly. Working Group Members Using Data […more]