Surety Bonds
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.