“I don’t understand what an ‘obligee’ is. I’m trying to research how to get a janitorial bond. Every time I see ‘obligee’ my head goes numb.”

An obligee is the person or organization you are obligated to. More specifically, the obligee is the one who is protected by a surety bond and is listed as the main beneficiary. In most cases, this would be the state or local department that requires you get the bond in order to get a license.

However, in the case of a Janitorial Service Surety Bond, also known as a Fidelity Bond, the surety bond would protect the janitorial employer from dishonest acts committed by their employees and against the employer’s clients.

“My bonding company is telling me my spouse has to sign off on the bond. Why?”

A surety bond is a financial guarantee. In most cases, once you become married your financial obligations become your spouse’s financial obligations and vice versa. Having your wife “sign off” on the surety bond is simply your insurance company’s way of ensuring they are following state laws and issuing you the correct bond.

“What’s the difference between a fidelity bond and a surety bond?”

A fidelity bond is often referred to as a Dishonesty Bond. This designation provides more clarification as to its use and meaning than the previous term. A Fidelity Bond is used to protect the employer from dishonest acts committed by its employees. Some examples of Fidelity Bonds include: Janitorial Service Bonds, Employee Dishonesty Bonds and Pension Trust (ERISA) Bonds.

The term “surety bond” is an all-encompassing phrase used to describe three broad categories of bonds: Contract Bonds, Commercial Bonds and Fidelity Bonds.

“Do you guys underwrite your own bonds?”

We have an in-house underwriting authority for many different bond types. This in-house underwriting creates the rapid turnaround time that sets Surety Bonds.com apart from our competitors. Many times clients come to us because their bond got canceled or they waited until the last minute. Having those underwriting services allows us to make the difference for our clients when they need it most.