What are Surety Bonds?
Surety bonds are three-party agreements that guarantee contract performance or legal compliance—essential for contractors, businesses, and individuals required to secure licenses or permits.
Common Uses For:
Construction Contracts
Licensing & Permitting
Court Bonds
Fidelity Bonds
Bid & Performance Bonds
Custom Bonds
FAQ
What is a surety bond?
A surety bond is a legal contract among three parties (principal, obligee, surety) to guarantee the principal fulfills obligations to the obligee.
Who requires surety bonds?
Government agencies, project owners, and clients often require bonds for contractors, public officials, auto dealers, and license holders.
How is a surety bond different from insurance?
A bond guarantees performance or compliance—not compensation for loss. The principal reimburses the surety for valid claims paid.
How long does it take to get a bond?
Many bonds are issued instantly or within a day, but complex or high-value bonds may require underwriting and financial review.