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Surety Bonds are a promise to pay one party (the oblige) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the oblige against losses resulting from the principal's failure to meet the obligation. There are many types of Surety Bonds:


Probate Bonds

Probate bonds are required by law to guarantee an honest accounting and faithful performance of the duties of the fiduciary in compliance with the orders of the probate court. Examples of Probate Bonds include Administrator, Executor and Guardian.


Judicial Bonds

A Judicial Bond is generally required in civil court proceedings when a litigant seeks a special right or remedy in advance of a final court decision. Examples of Judicial Bonds are Attachment, Injunction, and Replevin & Appeal.

License and Permit Bonds

License & Permit Bonds are required by the federal government or by any state, county, municipality or other political subdivision as a condition precedent to the granting of a license to engage in business or a permit to exercise a particular privilege, where such business/privilege presents a risk to the public welfare. Examples of License & Permit Bonds include Contractors License, Street Permit, Real Estate & Insurance Brokers and Compliance Obligation.

Miscellaneous Bonds

Miscellaneous Surety Bonds are those obligations that do not clearly fall within the scope of the other bond classes. Some of these bonds are required by law and must be conditioned as provided by statute, ordinance, or regulation. Examples of Misc. Bonds - Lost Securities, Patient Fraud (Nursing Homes), Concessionaries, Games of Chance and All Other Financial Guarantees.

Business Service Bonds

The Business Service Surety Bond addresses acts of theft by the principal or principal's employees while performing services for others. Businesses such as janitorial services and home health workers are just two of the types of operations that can benefit from being "bonded".

Public Official

The Public Official may be elected or appointed to a full-time or part-time position. The bond covers the official's term of office and guarantees that the bonded official will faithfully perform all official duties. Said bonds are the direct result of state statute or other type of public charter and specifically determine the exposure for a given bond. Examples of Public Official Bonds are Notary, Treasurers, Tax Collectors, Sheriffs and Other Public Officials.

Non-Construction Performance Bonds

These bonds secure the obligation to faithfully perform the terms and conditions of a contract. The companies who need performance bonds range from manufacturers, wholesalers and distributers who may supply a product or commodity, to service companies, such as janitorial contractors, food service operations, bus companies and trash haulers, to name a few.

Tax Bonds

Examples of Tax Bonds include Fuel, Cigarette, Alcohol and Other Sales Tax.

Performance & Payment Bonds

The performance bond protects the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions. The payment bond assures that the contractor will pay specified subcontractors, laborers, and material suppliers on the project.

Bid Bonds

The bid bond assures that the bid has been submitted in good faith and that the contractor will enter into the contract at the price bid and provides the required performance and payment bonds.

Fidelity Bonds

Fidelity Bonds can provide coverage for:
  • Employee Theft
  • Depositors Forgery or Alteration
  • Theft, Disappearance & Destruction of Money & Securities, and Robbery & Safe Burglary of Other Property
  • Robbery & Safe Burglary of Money and Securities Other Property
  • Computer and Funds Transfer Fraud
  • Money Orders & Counterfeit Currency