Contract Surety Bonds are most commonly required on construction projects to guarantee the performance and or payment portions of an underlying contract. Typically the project owner or general contractor will require a Bid Bond and if awarded the project Payment & Performance Bonds in order to perform work on the specific project. Maintenance Bonds may also be required after the completion of the project.
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Subdivision Bonds are also considered a form of Contract Surety Bond. They provide a guarantee to the local government that the project will be constructed in accordance with the agreed upon contract.
Other available types of Contract bonds include Supply Contract Bonds, Subcontractor Bonds, Labor and Material Payment Bonds and Performance Bonds. Whether you are a brand new contractor or a well-established contractor looking for a Contract Surety Bond or wanting to establish a Contract Surety Bond Line, take the first step and complete the required application or contact one of our knowledgeable underwriters to discuss your needs today! Continue on to Contract Surety Bonds.
Commercial Surety Bonds are an all-encompassing term used to describe License, Permit and Miscellaneous surety bonds. Each provides a distinct guarantee related to the particular bond type.
License bonds are required of many businesses that provide professional services like Contractors License Bonds or Insurance Broker Bonds. The bond ensures that the professional has been properly qualified to perform the licensed business and that they have agreed to comply with the underlying state, city, county or municipality’s laws, statutes, regulations or ordinances. Permit bonds allow businesses and individuals to perform a certain task that requires a permit authorizing them to perform the task.
Miscellaneous bonds are for all other bond types that fall under the commercial bond term that are not otherwise classified, like Sales Tax Bonds and Utility Deposit Guarantee Bonds. They provide a guarantee that the bonded party will pay their obligation accordingly. Our bond library is constantly growing, so if you don’t see your bond type, let us know! Whether you need a Motor Vehicle Dealer Bond or a Mortgage Broker Bond, take the first step to getting your bond by completing our online application, most bonds can be issued the same day!
You can also search for your needed bond on our surety bonds by state page or by searching by bond type. Continue On To Comercial Surety Bonds.
Court Surety Bonds are commonly required in most court proceedings and fall into two distinct categories, Judicial Court Bonds and Probate Court Bonds.
Judicial Court bonds provide a financial guarantee to protect opposing or other injured parties from any financial loss that may arise as a result of the court action. The two main categories of Judicial Court Bonds are Plaintiffs Court Bonds and Defendants Court Bonds each providing specific remedies to protect the parties involved in the legal proceeding.
Probate Bonds are required in cases where an individual is named to oversee the assets of another, whether they are a minor, incapacitated or deceased person. These bonds protect the individuals or heirs from the fraudulent actions of the fiduciary in their handling of the estate. Administrator/Executor Bonds are required for the handling of the estate of a deceased individual. Conservator/Guardianship Bonds are required for handling the assets of a minor or incapacitated individual.
If you have been directed by the court or your attorney to secure a court bond, please visit our court bond page to search for your bond or contact one of our Court Surety Bond Professionals to help you get your Court Bond today! Continue on to Court Surety Bonds.