1201 Enterprise Drive, Suite A
Bonds are the middle-ground between insurance and assurance. There are thousands of bond types out there ranging from bids for projects to employee fidelity but in the end they are all based on a three-party system. An Obligee wants to sign a contract with some one and wants assurance that if the contract is broken, they won't be out the money from their project.For instance, if you are a contractor, your client may have a large project for you, but they have expectations on when it will be done and what materials will be used. To make sure you meet the conditions of the contract they may require you to be bonded. In this situation, they are the obligee and you are the principal. The third-party is the bond company how writes the bond to the obligee promising that they will pay them if you fail to meet the requirements of the contract. It is completely reasonable that you wouldn't have the capital to pay your client back immediately so the bonding company steps in to cover you and they then work with you to get paid back.
An unfinished job or broken contract could sink you or your client. Bonds are there to serve as a buffer to make sure no one suffers a major loss.
We have extensive experience in the following bonds:
We also offer other bonds, so don't hesitate to reach out to one of our on-staff experts and we'll find the bond you need.
We contract through multiple bond companies to find you the best rate and align you with the most fitting carrier.
Our carriers write business all over the country, so no matter where your job is, We can find you the right backing.