Surety Bonds

  • Contract Surety: Contract bonds, used heavily in the construction industry, are a guarantee from a Surety to a project’s owner (Obligee) that a general contractor (Principal) will adhere to the provisions of a contract.
  • Performance/Payment Bonds & Bid Bonds:  A performance bond is a surety bond issued by an insurance company to guarantee satisfactory completion of a project by a contractor.

Eligible:

  • General Contractors
  • Highway Contractors
  • Mechanical & Electrical Contractors
  • Non-construction Accounts
  • Specialty Contractors
  • Utility Contractors

 

  • Commercial Surety Contract bonds, used heavily in the construction industry, are a guarantee from a Surety to a project’s owner (Obligee) that a general contractor (Principal) will adhere to the provisions of a contract.
  • Fidelity Bonds  A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.
  • Fiduciary Bonds  A fiduciary bond provides insurance protection against the possibility of fraud or embezzlement by a fiduciary.
  • License & Permit Bonds License and permit bonds are required by certain federal, state, or municipal governments as prerequisites to receiving a license or permit to engage in certain business activities.
  • Probate Bonds  Generally, a probate bond protects the heirs of an estate. A probate bond provides protection against misrepresentation, fraudulent acts, errors, negligence and theft by the executor or administrator of the estate until the probate process is completed and the property has been distributed to the heirs of the estate.
  • Public Official Bonds Public official bonds guarantee the honesty and faithful performance of those people who are elected or appointed to positions in government. Examples of officials sometimes requiring bonds include: notaries public, treasurers, commissioners, judges, town clerks, and law enforcement officers.