Bonds are often required by a person or company in order to run their business.
A contract bond guarantees that the contractor will carry out the obligations of his contract. Bid bonds, performance bonds, labour and material bonds are some of the contract bonds that are available.
A fidelity bond protects an employer against the dishonest acts of his employees. Larceny, theft, forgery and embezzlement or other fraudulent or dishonest acts of employees are protected with a fidelity bond.
Government authorities and some businesses require that you post a bond before they will allow you to engage in your business activities. These are license and miscellaneous surety bonds. Building movers, electrical and gas contractors, and auto dealers are a few examples of businesses requiring this type of bond.
A service bond is used where a business owner is required to guarantee the performance of himself or his employees if a dishonest or fraudulent act is committed during the course of their work. Carpet cleaners, janitorial services, and painting contractors are a few examples of businesses that may require this type of bond.
Administration/fiduciary bonds and lost securities bonds are also available.
Please contact our office for information on the bond application process.