Contract & Commercial Surety Bonds
A surety bond is a three party agreement where one party (the surety) guarantees to another party (the obligee) the obligation of a third party (the principal.)
| Contract Bonds |
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Commercial Bonds |
Contract surety bonds are project specific and remain in place for the life of the project. We recognize the importance of a solid working bond line of credit to a contractor who specializes in Public Works. To this contractor, a bond line is their blood line and experiencing a hold up in the ability to provide a bond can result in the loss of a contract.
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Commercial surety bonds, commonly referred to as license & permit bonds, fall under a very broad umbrella and are compliant in nature. (The principal of the bond will “comply” with the law.) Typically, the surety is providing guarantee to a governing body and/or to “the people” that an individual will act within the rules, regulations, laws and ordinances of the work they are performing.
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