SURETY BONDS
BOND IN MINUTES
Now you can search, apply, and bind and print your Bond within minutes. Use our Bond express button to apply. This is Great for MHIC bonds, State License bonds and Personal Representative bonds. You can apply, price, pay and print your bond in minutes. If you can’t find the bond you need please call us at 667-367-2095 and we will have an agent assist you with the process.
ONLINE APPLICATIONS
FIDELITY BOND APPLICATION
Bid/Performance Application
Probate, Appeal and Fiduciary Bond Application
CONTRACT BOND APPLICATION
ERISA BOND APPLICATION
Probate and Fiduciary Bond Application
Contract surety bonds
These bonds are often used in the construction industry. They protect the owner (obligee) from financial loss in the event that the contractor (principal) fails to fulfil the terms and conditions of their contract. The obligee is accordingly protected against a contractor’s inability to complete a job to its full satisfaction.Surety bonds remain valid for the duration of the contract they cover, as well as for any agreed maintenance period that was written into the contract. They could therefore possibly last for a year or more after the contractual obligations had been completed. In this way they would protect the obligee in the event of problems arising during the maintenance period which might require some of the work to be redone or corrected.
Commercial surety bonds
These bonds ensure that a business complies with the security requirements of public, legal or government entities. They guarantee that the business or individual will satisfy all required legal obligations, and thus protect the obligee against financial risk
Bonds known as Fidelity bonds
Business service bonds – these protect business clients from theft or loss of their funds, valuables, and other assets.Employee dishonesty bonds – these protect a business from fraudulent activities committed by its employees.ERISA bonds – these safeguard employees and their beneficiaries in the event of dishonest or negligent actions financially harming their assets. They do this by setting a minimum standard for pension plans, also guaranteeing the payment of these and similar benefits, to employees.
Reasons to Be Bonded
A business needs to be bonded if a state or municipal authority requires it. In particular, if one’s business frequently performs services in customer’s homes or on the premises of other businesses, becoming bonded, to protect one’s customers and business, is strongly recommended
Being bonded provides a business with financial stability in the case of a claim by customers. In the event of a customer making a successful claim against the business, the compensation needed to settle the claim would come from the bond. As a result, this wouldn’t impact the continuation of immediate operations.
Being bonded cements good relationships, building a layer of trust, in the knowledge that one is dealing with a business that is professional, credible, and ethical.
667-367-2095 or 410-871-1750