Performance Bonds #surety, #bonds, #management, #performance, #retention, #advance, #payment, #capital


Performance Bonds

Performance Bonds are Contract Guarantee Bonds, in which the guarantor undertakes to pay damages to a third party if there is a breach by his contractor. Performance Bonds issued by Surety companies are used to reassure Employers that the contractor will ‘perform’ in accordance with the Contract.

The ability to provide a Performance Bond from a Surety evidences to the beneficiary that the contractor has a strong financial covenant, enabling the contractor to win new contracts.

It is typically for 10% of the Contract Sum, to cover losses incurred by the beneficiary following a breach of contract, including contractor Insolvency, by the contractor.

They are typically required by contractors operating in the following industry sectors:

  • Construction
  • Property Development
  • Support Services
  • Facilities Management

Information required for a quote

Whilst no means exhaustive, here are the main items you will need

  • Bond application form, specific to the Bond required
  • Bank information form and facility details
  • Bond wording
  • Budget & forecast accounts
  • Current order book and pipeline
  • Last filed full report & accounts
  • Management accounts and supporting balance sheet

Wording check information requirements

  • Duration of works
  • Bond release event
  • Contract type
  • Contract amount
  • Beneficiary
  • Location of works
  • Bond amount
  • Proposed bond wording

Get in touch

As a Specialist Surety Services Provider, DRS specialise in the arrangement of Performance Bonds. We have an approved list of investment grade sureties (typically “A-” Standard & Poor’s or higher) to meet the requirements of Bond beneficiaries.

Please contact us


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How to Set Up an IRS Tax Payment Plan – 8


How to Set Up an IRS Tax Payment Plan 8 Steps to Consider

By Claire Moore
Posted in: Taxes

It s always nice to receive a tax refund it can feel almost like finding free money. Unfortunately, sometimes you end up owing Uncle Sam money, and even if you can t afford to pay what you owe, you still have to file your tax return by the filing deadline. Sooner or later, you must work out an agreement with the IRS to pay the remainder. You might be tempted to just ignore the whole issue in the hopes that it will just go away, but that would be a major and costly mistake.

If you find yourself in this situation, do not delay. Make it your top priority to contact the IRS to find a solution to your problem. Though you might not believe it, the IRS is willing to work with you to help you pay your tax bill.

What Happens If You Don t Pay

If you don t take steps to set up a payment plan, the IRS can use its massive powers to extract the money from you any way that it can. Typical collection methods include:

  • Putting a lien on your home
  • Freezing your bank accounts
  • Seizing tax refunds you would otherwise be eligible for
  • Garnishing your wages

If the IRS carries out any of these collection methods, your credit score will take a big hit. A drastic drop in your credit score can cause your insurance rates to increase, as well as your loan and credit card interest rates. The best defense against having your finances damaged is to take advantage of IRS programs for paying your taxes.

Tax Payment Plan Options

By law, the IRS has to collect taxes due within 10 years from the date the tax return is filed. If you negotiate a payment plan with the IRS, then the payment amounts are structured to make sure that your entire tax bill is paid off by the end of the 10-year collection period.

Here are steps that you can take to make sure your tax bill is paid:

1. Determine Your Total Due
It is important to determine exactly how much you owe, as there are numerous collection procedures and payment options which depend upon the amount. For example, the IRS recently changed many of its procedures for filing liens, raising the threshold from $5,000 to $10,000 in taxes due before it will file a lien.

If you owe $10,000 or less and you are up-to-date on all of your income tax filings and payments from previous years, then the IRS will likely accept your proposed payment plan unless it concludes that you actually can afford to pay the tax bill in full now. The fees you pay for setting up an installment agreement range from $43 to $105 depending on the amount you owe and type of agreement you enter into (direct debit, payroll deduction, or installment payment).

2. Consider an Offer-In-Compromise
An offer-in-compromise is an agreement between a taxpayer and the IRS that settles the tax debt for less than the total owed. Under new rules, the IRS raised the maximum income level from $50,000 to $100,000 making it possible for more taxpayers to qualify. The maximum tax owed was also raised from $25,000 to $50,000. The offer-in-compromise requires the filing of Form 433-A. Form 656. a $150 filing fee, and an initial tax payment.

An offer-in-compromise is a last-ditch effort to reach an agreement with the IRS, as the agency expects you to exhaust all other possibilities before applying. The IRS determines if you qualify for the offer-in-compromise by examining several factors, including your:

The IRS generally approves an offer-in-compromise if it determines that the amount that you have offered to pay to settle your tax debt is the most that they could expect to collect from you within a reasonable period of time.

3. Pay by Credit Card
When you pay the IRS over time, you are charged interest at 3% plus penalties, which continue to accrue until the balance is totally paid off. You might prefer to owe your credit card company instead of the IRS, if for no other reason than to stop the penalties.

If you choose to pay your tax by credit card, your American Express, Discover, MasterCard, or Visa payment must be processed by one of the three approved providers: WorldPay US, Inc. Official Payments Corp. and Link2Gov Corp. These agencies charge a convenience fee of about 2% of your bill. Then you make payments to your credit card company, which will charge you interest as it does on any other purchase.

4. Get a Fresh Start
If your tax problems stem from not filing your return at all, then you can expect to be charged a failure-to-file penalty which must be paid in addition to your back taxes. Currently, the failure-to-file penalty is 0.5% per month up to a maximum of 25% of your tax bill. The IRS has a program called Fresh Start, by which you can apply to have the failure-to-file penalty waived for up to six months. To qualify, you have to owe less than $50,000. You can apply by filing Form 1127-A .

5. Request an Installment Agreement Online
If you owe $50,000 or less in combined tax, penalties, and interest and are up-to-date on filing your tax returns, you can go to the IRS website and use the online payment agreement (OPA) application process. If you owe less than $25,000, under this plan you can decide how much your monthly payment will be. However, you must pay off your balance within five years.

If your balance owed is more than $25,000, you must complete Form 433-F. the Collection Information Statement Form, to apply for participation in an installment plan. The IRS uses the information on the form to place a lien on your assets and then determine the amount of your monthly paymens. A lien informs the public that the U.S. government has a claim against all property, and any rights to property, of the taxpayer. If you don t pay your taxes, then the IRS s next move would be to issue a levy and take possession of your property with the intent to sell it.

6. Request an Installment Agreement for a Large Balance Due
If you owe more than $50,000 and you want to apply for an installment agreement, you need to complete and mail Form 9465-FS and Form 433-F, the Collection Information Statement. This application cannot be done online. The IRS reviews your financial information and makes a decision as to whether you qualify for an installment plan. If the IRS approves your request, the agency asks for a fee ranging from $43 to $105 depending on your income and the type of payment plan for which you qualify.

7. Consider Hiring a Professional
You should be able to handle the paperwork and negotiations by yourself, but if the very idea makes you nervous, then consider hiring a CPA, an enrolled agent, or a tax attorney to negotiate on your behalf.

8. Stay Up-to-Date on Current and Future Taxes
While you re paying off what you owe for previous years, be sure to keep up-to-date on the current year s tax payments. If you don t have enough tax withheld from your salary or wages, or if you are self-employed, you can make estimated tax payments directly to the IRS using Form 1040-ES .

Final Word

The IRS has a reputation for being heavy-handed in dealing with taxpayers a reputation that is deserved. However, policy changes in the past two years indicate that the agency is taking into account the devastating effects of the recession, and is considering that many taxpayers simply owe more than they can afford to pay. If you find yourself falling behind in your tax payments, it s time to give the IRS payment plans another look.

What strategies do you use to make sure that you don t owe more than you can afford to pay in taxes?



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Php payment gateway #php #payment #gateway


MyGate’s enterprise Payment Gateway and Debit Orders, coupled with our guidance and expert advice, help merchants in Africa accept more payments from their customers and sell more.

The PCI Security Standards Council offers robust and comprehensive standards and supporting materials to enhance payment card data security. These materials include a framework of specifications, tools, measurements and support resources to help organisations ensure the safe handling of cardholder information. MyGate is Level 1 Certified provider and is required to be PCI DSS compliant, undertaking annual audits from an external Qualified Security Assessor.

The Verified by Visa scheme (VbV) is an initiative that makes shopping online even more secure. This is an industry-wide effort to help combat online fraud. When a customer makes a payment they will be prompted to enter a unique, personal code that has been registered with their bank. The bank then authenticates the cardholder performing the transaction and returns electronic evidence to the retailer of the online authentication. MyGate has completed Verified by Visa certification.

MasterCard SecureCode is initiated on a retailer’s website and interacts with both the cardholder and their card issuer. When a customer makes a payment they will be prompted to enter a unique, personal code that has been registered with their bank. The bank then authenticates the cardholder performing the transaction and returns electronic evidence to the retailer of the online authentication. MyGate has completed MasterCard SecureCode certification.

MyGate has completed its ISAE 3402. This forms part of MyGate’s commitment as a service organisation to meet pre-defined governance standards and management controls. The audit supports MyGate’s overall objective of creating a safe secure financial platform for merchants to transact and enhances their information security and business process management capabilities.

MyGate is an online payment and debit order company that helps companies to accept payments securely for products and services. Online credit card payments, automated recurring card payments and call centre payments are just a few of the solutions, which are available, to simplify the way customers spend their money.

Allowing customers to pay using debit orders is a simple way to ensure that your company collects money and your customers do not have to worry each month about their payments being late. Debit orders are a great way to keep track of recurring payments from customers and saves the company’s money on reconciling manual EFT payments. Debit orders can save time for both the business and the customer making it a worthwhile system to implement for recurring payments.

Online payment is another great way to keep up to date with your payments. For the customer, being able to pay your account using an online payment system is going to enable you to pay your accounts whenever you feel like it. In addition, for the company, receiving your payments on time will have a positive effect on your business.

Simplifying collections

It is not only debit orders that are able to ensure that you sell more and that your customers pay their accounts. Unfortunately, you cannot guarantee that people are going to pay their accounts but with a debit collection system in place the money will go off automatically, ensuring that you get your money even if the client does not physically pay the amount into your account. Just another service that MyGate offers you to give you peace of mind.

MyGate also offer companies a tokenisation system, bank account validation service, bank account verification service and reporting for the payments receive.

Secure EFT payment

Along with being an online payments company and debit order collection company. MyGate also offers clients the opportunity to set up alternative payment methods for their customers. MyGate’s instant EFT service is available in South Africa and enables customers to make safe online payments into your bank account. You will receive instant notification of the payment having been made, allowing you to deliver your product or service in real time.

Offering your customers multiple payment options helps to expand your target market and encourages more people to buy.

Why choose MyGate?

  • Secure Processing: Level 1 PCI Certified
  • Wide range of processing methods
  • Experience and Expertise
  • Security and Fraud Prevention
  • Connected to all major banks
  • Secure Web access for all financial transactions


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Billview Phone Bill Customer Service #payment #processing, #payment #processing #services, #payment


Billview Phone Bill Customer Service

Let Us Help You with Your Phone Bill

Welcome to, your online resource to help you with your phone bill. BSG understands phone bills can be difficult to navigate, so let us help you identify items, charges and transaction types which are provided to you by your telephone company. BSG provides phone billing services enabling consumers to make purchases at authorized online stores, service providers and telecommunications companies, and pay later on their home phone bill.

How To Research Purchases Made with Your Phone Bill

When you make a purchase or sign up for services at authorized online stores, service providers and telecommunications companies, you will receive one of the following inserts (click to view): E NABILL. ESBI. HBS. OAN. USBI and ZPDI in your phone bill. The phone bill insert will have details on the purchase, the service provider where the purchase was made and charge information. Learn more about BSG s phone billing services and our program to protect consumers from unauthorized charges on home phone bills.

Contact Our Customer Service Team Now

Click on one of the phone billing service for details, and then contact us online or by calling for assistance. Our team is ready to help you research charges, provide contact information and details on the service provider where the purchase was made and help you resolve issues with your bill.

BSG s customer service team is available 7a – 9p Central time, Monday – Friday. You can also fill out an online Customer Service Inquiry. We will respond to your request within 4 business days.

Your Phone Bill Insert Page


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