Surety Bonding

Think of a surety bond as a line of credit. If you can’t complete a project, the project owner can then tap into that line of credit to finish the project as necessary. Surety bonds are a three-party agreement.

The three parties involved include:

  • The surety company supplying the bond
  • The obligee; the project owner
  • The principal; the contractor, organization or employer providing the work.

Contract Surety Bonds

Although basic surety bonds are common, there are many other types of bonds that serve different purposes. Options include:

  • Bid bonds
  • Performance bonds
  • Payment bonds

Commercial Surety Bonds

Commercial surety bonds are often required by state laws and ensure some aspect of principal’s occupation.

  • License and permit bonds
  • Probate and court bonds
  • Public official bonds
  • Miscellaneous bonds

Fidelity Bonds

Fidelity bonds protect business owners and their customers against employee theft and dishonesty.

  • Business services bonds
  • Standard employee dishonesty bonds
  • ERISA bonds

Contact us

Contact our team to learn more about our surety bonding options.