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. […]
Category Archives: Surety Bonds
03
Jun
Jun
If you’re required to obtain a surety bond, you’ll need to fill out a form as part of the process. A surety bond form is a legal document that outlines the bond’s terms, including the amount, the obligation the principal agrees to complete, and the conditions under which the surety company will be liable if […]
29
May
May
If you need a surety bond, it’s essential to partner with the right surety bond agent to ensure a seamless process. Here are some important factors to consider when choosing a surety bond agency and, more specifically, an agent to work with. What is a surety bond agent? A surety bond agent is a licensed […]
28
May
May
If you own a business requiring a surety bond, you need to understand how the bond renewal process works. Before a surety bond expires, it must be renewed to remain in effect after the original term ends. If your surety bond expires prematurely, you may be unable to finish a job or maintain your license […]
27
May
May
If you’re a business owner, contractor, or other professional, you may be required to get bonded at some point in your career. But what exactly does that mean? And how can you get the bonds you need as quickly and easily as possible? We’ll walk you through five simple steps to getting bonded, clearing up […]
26
May
May
Do you need a surety bond for the first time? Or are you curious how to find better rates and services from your surety provider? Either way, you’re in the right place. As a reminder, a surety bond is a three-party agreement between a principal, an obligee, and a surety. The principal is the party […]
21
May
May
A surety bond is a legally binding contract ensuring one party keeps its promise to another. If someone fails to keep their promise, a surety company will compensate the party who experienced the loss. Then the party at fault for breaching the contract will have to pay the surety back. Confused? Hey, that’s okay! That’s […]
10
May
May
If you’re a licensed professional, contractor, or business seeking work on a government project, you’ll likely need to purchase surety bonds throughout your career. Surety bonds are typically required by government agencies, financial institutions, and other businesses to ensure that contractors, fiduciaries, and other relevant parties follow their contracts and fulfill their obligations. There are […]