Surety Bonds are three-party agreements whereby the surety guarantees to the obligee (the project owner) that the principal (the contractor) is capable of performing the contract in accordance with the contract documents. Performance of the contract, which is the subject of the bond, determines the rights and obligations of the surety and the obligee.
Here are the eight different families of surety bonds:
- Contractor Bonds
- Fidelity Bonds
- Janitorial Bonds
- Judicial Bonds
- Fiduciary Bonds
- License and Permit Bonds
- Contract Bonds (Bid and Performance Bonds)
- Tax preparer bonds
- Notary Bonds
Let us help you navigate the tricky nature of this type of insurance to make sure you are properly protected and have the coverage that helps all parties involved get what they want.