CONTRACT SURETY
Bid Bonds
Assure that the bid has been submitted in good faith and that the contractor will enter into the contract at the price bid. Bid Bonds also provide the required performance and payment bonds.
Performance Bonds & Payment Bonds
Protect the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions.
Assure that the contractor will pay specified subcontractors, laborers and material suppliers on the project.
Maintenance Bonds
A maintenance bond is one which normally guarantees against defective workmanship or materials for a specified period.
COMMERCIAL SURETY
License & Permit Bonds
License and permit bonds are required by state law or local regulations in order to obtain a license or permit.
Court/Judicial Bonds
Judicial and probate bonds, also referred to as fiduciary bonds including mechanic’s lien, attachment, replevin, and admiralty
Subdivision Bond
A subdivision bond is one which guarantees to a city, county, or state that the principal will finance and construct certain improvements such as street, sidewalks, curbs, gutters, sewer, and drainage systems.
Public Official
Public official bonds guarantee the performance of duty by public officials, e.g. treasurers, tax collectors, sheriffs and judges.
Federal Non-Contract Bonds
Federal (non-contract) bonds are those required by the federal government.
Miscellaneous Bonds
Miscellaneous bonds – e.g. lost securities, lease, guarantee payment of utility bills, to guarantee employer contributions for Unions.
INTERNATIONAL SURETY
Bonds for domestic and foreign companies including contract, advanced payment, warranty and maintenance.