SURETY BONDS - WHAT ARE THEY:
A Surety Bond is a written agreement that usually provides for financial compensation in case the principal fails in their duties or promises. A Surety bond is a specialized type of insurance that is created whenever one party guarantees an obligation by another party.
- There are always three parties to this Suretyship agreement.
- The principal (client / you) undertakes the obligation.
- The Surety guarantees the obligation will be met.
The Obligee receives the Surety Bond and in most cases receives monetary compensation from the Surety Bond if the obligations are not met.
Surety bonds are not insurance. Surety bonds are an extension of credit. The premium charged covers the cost of providing a service. That service is the credit guarantee an individual or business requires to conduct their individual or business affairs.
What makes Surety Bonds different from insurance? The risk is transferred to the insurance company. A Suretyship guarantee remains with the principal and the protection from the bond is for the Obligee. The Surety uses its company financial backing guarantee.
There are hundreds of different types of Surety Bonds and each one has to be considered differently from the underwriters prospective. Surety cancellation clauses, term dates, cumulative liability and aggregate liability are major factors when processing a surety bond submission.
We offer the widest selection of surety and fidelity services.
Specializing in providing Bonds to businesses and individuals throughout the United States. If you do not see the bond you need listed below or, your not sure which type of bond you need please call us at 1-888-490-BOND (2663) Toll Free. You can also fill out our instant application and a member of staff will contact you.
Nation Wide Service
Specializing in providing Bonds to businesses and individuals throughout the United States.
| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P |
Q | R | S | T | U | V | W |
X | Y | Z |
PLEASE NOTE: The
definition is provided for informational purposes ONLY and is
not intended to serve as legal advice and is no substitute for
consulting legal counsel.
A Surety Bond is a written agreement that usually provides for financial compensation in case the principal fails in their duties or promises. A Surety bond is a specialized type of insurance that is created whenever one party guarantees an obligation by another party.
Bruised Credit or Bad Credit Surety Bonds -- Our Poor Credit Surety Bond Program can help you get the bond you need even if your credit is less than perfect. Read More..
Exciting new program for many California Surety Bonds $10,000.00 and under.
Instant Issue Program, for some of the following surety bonds. $10,000 Motorcycle Dealer, $10,000. Lessor-Retailer, $10,000. ATV Dealer or $10,000. Wholesaler Only Dealer Bond Click for details
The following list of California miscellaneous surety bonds will be approved with very little underwriting information; just complete the simple instant application and we will provide a quote in most cases same day.
