A Surety Bond is a promise to be liable for the debt, default, or failure of a party. It involves three parties. The surety guarantees the performance or obligations of the principal to a third party or obligee. There are different types of bonds including:
Dishonesty or Fidelity Employee theft bonds Protect business owners and their customers from theft of property by employees. Employee dishonesty bonds are most often needed for businesses that perform services on their customers’ premises, such as janitorial services companies or home health providers.
Contract bonds are usually for construction work and include bid, performance, payment, and maintenance bonds.
License and Permit Bonds guarantee the licensee will operate in conformity with general laws. This is usually for contractors and builders as well as others.
To quote or purchase a bond, click on the button:
Commercial Package Policies (CPP)
combine two or more individual coverages. It may include commercial property, commercial general liability, professional liability, commercial auto, inland marine, crime, employee dishonesty, liquor liability, pollution liability, or farm as examples.