This is a financial guaranty provided by an insurance carrier. There are many types of bonds available. The most typical are:

• Fidelity (Employee dishonesty)
• Financial Institution
• Public Official
• Public Employee
• Judicial (Court)
• Probate
• License and Permit
• Contract
  • Bid
  • Performance and Payment
  • Maintenance
  • Supply
  • Subcontractor
  • Completion
• Miscellaneous

Obtaining a bond is much like obtaining a loan. Your acceptability for bonding is determined by many factors, but generally the “Three C’s” apply: Character, Credit, and Collateral.