Surety Bonds are financial instruments that promise to pay a party (obligee) a certain sum of money if an insured cannot fulfill the terms of a contract or obligation.
Surety bonds are often required in construction activities and government work.
For example, a state utility company may require its general contractors to have payment bonds to guarantee that sub-contractors and suppliers will be paid.
There are many types of surety bonds.
Guarantee performance under
a government contract, including:
- Bid bonds
- Performance bonds
- Payment bonds
- Maintenance bonds
Required by law for various industries and occupations to guarantee legal compliance, including:
- License and permit bonds
- Warehouse bonds
- Liquor bonds
Protect your business and your customers against employee theft, including:
- Business services bond
- Employee dishonesty bond
- ERISA bond
Call or email our experts, submit a question, or REQUEST A QUOTE from one of our many nationally recognized insurers, such as Travelers, The Hartford, Progressive, Farmers, Nationwide, Mercury, and more.
One of our Account Managers will respond the same day, Monday – Friday.
We are open from 8:00 a.m. – 4:30 p.m.
Phone: (888) 253-8498