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Surety Bonds 101 - Fidelity Bonds
- These bonds are required in many of the public offices held at state, county and local levels. If the position is one in which handling of public funds is involved a bond of this type is normally required. These bonds generally guarantee the faithful performance of the duties of the position. These bonds for tax collectors, supervisors and treasurers can be very large in size and may, according to the governing regulation, require various standards and aspects of performance for similar positions in different jurisdictions. A key aspect to undertaking these risks is the understanding of the financial controls in place for these positions.