Category Archives: Surety Bonds

Why Does My Surety Provider Ask for Full Financials?

Surety expert helping client with bond application by requesting full financials

When working with a surety bond provider, you’ll likely encounter the term “full financials.” The concept comes into play during the bond application process.  But what does it mean? Why would your surety ask for it, and why should it matter? We put this guide together to answer all the questions we frequently get on […]

Bond vs. Insurance: 7 Key Differences

Agent explaining the concept of bond vs. insurance

Surety bonds and insurance are two types of financial protection. Surety bonds guarantee that a person or company will fulfill their obligations, while insurance pays for losses if something goes wrong. In this guide, we’ll break down the core differences between surety bonds vs. insurance. That way, you’ll know how each will serve you best. […]

How Much Does a Surety Bond Cost? [Updated 2023]

Applicant signing a surety bond agreement in front of the surety agent

Surety bonds are a type of financial guarantee that protects the obligee (the party owed money or something of value) from financial loss if the principal (the party obligated to pay) fails to fulfill their contractual obligations. Surety bonds are used in various industries, including construction, healthcare, and government contracting. Most bonds cost between 1-10% […]