Archive for February, 2015

Surety bonds for Affect Labs explained

Monday, February 9th, 2015

When we launch our new products sometimes we don’t expect them to be as popular as others. A product that we just finished putting together because famous even before the name was released. It was purchased by a secret buyer! They liked the first one so much they offered to buy even more. However before any more business could be done we had to get a bond. Since the majority of these devices were going to be placed in public areas in CA we had to get the bond there. Now I know what you are probably thinking. Isn’t the west coast the worst place to do business since there are so many laws and restrictions getting in the way? While some of that is true it can easily be overlooked when there is a contract for several million dollars in face. The kind of contract that would completely take your entire business to the next level. So yes it is worth the trouble.

When we found a company that we were pretty sure we were going with for bonding. We decided to give them a call and see what they were all about. I must say the guys over at really helped us out. While we had in the past operated in California we had never had to get a bond. For this reason we wanted to make sure we partnered up with the right surety bonding company. Now that its all said and done we are very happy with that decision we made. Not to mention this deal allowed us to sell millions of dollars in unit sold. Whats funny is that we are not so familiar with the process we know just about everything about these kind of private deals. We certainly look forward to having more like this one. But more importantly we hope we can continue to offer solutions to issues. In particular issues that can save lives and make us lots of money in the process.