Bonds
A surety bond is a guarantee; what the bond specifically guarantees depends on the language of the bond. Surety bonding is a form of credit, not insurance. Surety bonds are a three party agreement that acts as insurance for the obligee, the party requiring the bond (usually the government) of the principal (you).
Types of bonds include:
The process of becoming bonded is pretty strait forward:
Types of bonds include:
- Contractor License
- Lottery Bonds
- Freight Broker
- Performance
The process of becoming bonded is pretty strait forward:
- Find out bond requirements
- Apply for bond
- Get approved
- Sign indemnity agreement
- Pay premium
- Sign bond and send to obligee
