What Is A Bond?
For simplicity, a bond is a way for someone to secure a debt.
It is a way for you, the purchaser to pay a small amount up front for an insurance company to guarantee something on your behalf to another party. In the real world, bonds can be issued by a government, municipality, corporation, federal agency and other entities.
It is a way for you, the purchaser to pay a small amount up front for an insurance company to guarantee something on your behalf to another party. In the real world, bonds can be issued by a government, municipality, corporation, federal agency and other entities.
Insurance companies can issue different bonds for different circumstances. Below are a few of the common types of bonds we help issue for clients:
Surety Bond
A surety bond is a contract between three parties: you (the purchaser), another party, and an insurance company. The bond guarantees you will perform a contractual obligation to the other party. If you don't, the insurance company will pay the other party for the face value of the bond.
Lost Title Bond
These are a type of surety bond. This guarantees to the State or DMV that you are the rightful owner of a particular vehicle.
Contract Surety Bond
Contractor bonds are one of the most “popular” bonds you will see asked for in the insurance space. Contract bonds are used in the construction industry by general contractors. They are a guarantee to a project’s owner that the general contractor will adhere to the contract put in place.
License And Permit Bonds
These bonds work as a guarantee to a government entity that a business will adhere to certain laws and regulations.
Some examples are but not limited to:
As a local independent agency, it's our job to help clients find the best bond to fit their bond requirements. Give us a call today at 678-250-8133 or submit your request online to get your bond needs taken care of quickly and inexpensively!
Surety Bond
A surety bond is a contract between three parties: you (the purchaser), another party, and an insurance company. The bond guarantees you will perform a contractual obligation to the other party. If you don't, the insurance company will pay the other party for the face value of the bond.
Lost Title Bond
These are a type of surety bond. This guarantees to the State or DMV that you are the rightful owner of a particular vehicle.
Contract Surety Bond
Contractor bonds are one of the most “popular” bonds you will see asked for in the insurance space. Contract bonds are used in the construction industry by general contractors. They are a guarantee to a project’s owner that the general contractor will adhere to the contract put in place.
License And Permit Bonds
These bonds work as a guarantee to a government entity that a business will adhere to certain laws and regulations.
Some examples are but not limited to:
- Contractors License Bonds
- Tax Bond
- Environmental Bonds
- Broker’s Bonds
- Motor Vehicle Dealer Bonds
- ERISA Bonds
As a local independent agency, it's our job to help clients find the best bond to fit their bond requirements. Give us a call today at 678-250-8133 or submit your request online to get your bond needs taken care of quickly and inexpensively!