Surety Bonds

Type of Surety Bonds

• Contract Bonds
  • Bid Bonds: Ensure that a contractor who wins a bid will honor the terms of the contract and provide the required performance and payment bonds.
  • Performance Bonds: Guarantee that a contractor will perform the work according to the terms of the contract.
  • Payment Bonds: Ensure that the contractor will pay subcontractors, laborers, and suppliers.
• Commercial Bonds
  • License and Permit Bonds: Required by government entities to ensure that businesses comply with regulations and licensing requirements.
  • Judicial Bonds: Include court bonds like appeal bonds, attachment bonds, and guardianship bonds, ensuring compliance with court orders.
• Fidelity Bonds
  • Employee Dishonesty Bonds: Protect businesses from losses due to fraudulent acts by employees.
  • Business Service Bonds: Cover losses due to dishonest acts by employees working in clients’ homes or businesses.