Surety Bonds

Guarantee your commitments and stay compliant.

Certain contracts, licenses, and court obligations require a guarantee of performance. Without the right bond, missed obligations can lead to fines, penalties, or legal disputes.

With Surety Bonds, you ensure compliance and fulfill your obligations—so you can operate confidently and maintain trust with clients and regulators.

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Three-Party Guarantee Agreements

Principal

The person or business who needs the bond and promises to fulfill obligations. This is typically the contractor or business owner.

Surety

The bonding company that guarantees the principal’s performance. We provide the financial backing if obligations aren’t met.

Obligee

The party requiring the bond (government agency, project owner, or court). They’re protected if the principal fails.

Types of Surety Bonds

Contract Bonds

Required for construction projects: bid bonds, performance bonds, payment bonds, and maintenance bonds.

License & Permit Bonds

Required for professional licenses: contractor license bonds, notary bonds, freight broker bonds, tax preparer bonds.

Commercial Bonds

Required for business licenses and permits: auto dealer bonds, mortgage broker bonds, collection agency bonds.

Fidelity Bonds

Protect businesses from employee dishonesty, theft, or fraud: employee dishonesty bonds, business service bonds.

Court Bonds

Required by courts for legal proceedings: appeal bonds, injunction bonds, executor bonds, guardianship bonds.

Miscellaneous Bonds

Other specialized bonds: lost instrument bonds, utility bonds, fuel tax bonds, and warehouse bonds.

TIPS FOR LOWER BOND PREMIUMS

To get the best rates on your surety bond:
1. Maintain Good Credit: Credit score is the most important factor for bond pricing.
2. Provide Complete Information: Accurate applications speed approval and may improve rates.
3. Industry Experience: More experience in your field can lead to better rates.
4. Financial Strength: Strong business finances and assets support better terms.
5. Shop Multiple Sureties: Different companies specialize in different bond types.
6. Bundle Bonds: Multiple bonds with the same company may qualify for discounts.

Unlike insurance where claims are expected, surety bond claims are relatively rare, which allows for competitive premium rates for qualified applicants.

Get Your Surety Bond Quickly

Don’t miss out on contracts, licenses, or opportunities. Get the surety bond you need to meet requirements and grow your business.

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