Surety Bond

Why do I need a surety bond?

Surety bonds exist to help protect parties involved in a contractual agreement or to guarantee the performance of a bonded professional.

Contract Bond

In construction and development, the broad category of contract bonds is purchased by a contractor to protect the owner of the project from non-performance of their contract. More simply, there are a series of surety bonds that include bid bonds, construction bonds, performance bonds and site improvement bonds that all play a role in protecting project owners and developers from losing money due to contractors not fulfilling their contractual agreements.

If you are building a home, a surety bond can act as a guaranty that protects your financial interests should your contractor fail to complete the job, pay subcontractors, and more.

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Court Bond

The term 'court bond' encompasses all the bonds a person may be required to obtain while participating in a lawsuit. Many court proceedings require court bonds before a person tries to file some types of claims or tries to appeal a case. If this person, the principal, fails to compete the task he or she set out to do, the court will likely charge him or her for court costs. In this event the surety obligates the principal to pay such costs.

If you are headed to court soon for any reason, you should look into securing a surety bond for yourself. In the case that something unfortunate was to happen and you were unable to fulfill your intended task, a surety bond would cover any court costs you had incurred.

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Commercial Bond

Another large category of surety bonds we specialize in at Surety Bonds.com is commercial bonds. These bonds include the array of every license and permit bond and are required for certain professionals and business owners to do business in their state.

We often find that many customers are only vaguely familiar with the purpose, terms and costs of a surety bond, particularly those looking for commercial bonds.

Many entrepreneurs who set out to open a car dealership do not know they are required to purchase an auto dealer bond to do business. If you are opening a retail business, sales tax bonds are another common requirement. We can help you understand the process and get you bonded ASAP.

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Bonds by State