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Work-On-Hand Reports: A type of financial statements or schedule which lists a contractor's jobs in progress.

Workers' Compensation Self-Insurers Bond: Workers' Compensation laws, at the state and federal level, require employers to compensate employees injured on the job. An employer may comply with these laws by purchasing insurance or self-insuring by posting a workers' compensation bond to guarantee payment of benefits to employees. This is a hazardous class of commercial surety bond because of its "long-tail" exposure and potential cumulative liability. The "long-tail" exposure stems from the two statutory bond forms:

• Traditional - bond form: The surety is liable for payment of the principal's workers' compensation obligations occurring during the time the bond is in force. When the bond is cancelled, the surety continues to have liability for all workers' compensation claims incurred between the effective date of the bond and the cancellation date of the bond.

• Last surety on - bond form: The surety assumes all past, present and future liability to pay the principal's self-insurers workers' compensation obligations. The surety is released from all accrued liability if the surety cancels the bond and the principal later posts an acceptable replacement security.