Surety Bonds

For ensuring contractual safety.

A surety bond is a contract between three parties: the obligee, the principal and the surety. The surety promises to pay the obligee if the principal does not fulfill the terms of a contract. The premium cost is a percentage of the penal sum, and the rate is primarily determined by the credit worthiness of the principal. In the event that a claim is paid by the surety to the obligee, the surety will turn to the principal for reimbursement of the claim plus legal fees.

We can step in to evaluate your situation and to secure a variety of surety bonds including contract bonds, commercial bonds (license and permit, court, public official) and fidelity bonds.

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