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What is a Surety Bond?

by | Jun 16, 2020 | Surety Bonds | 0 comments

What is a Surety Bond?

What is a Surety Bond? A bond brings 3 parties into a contract with each other. Those parties are:

  1. The Principal (most likely this is you and you have been asked to get a bond by the);
  2. Obligee, the party that is requiring the principal to obtain the surety.
  3. The Surety is the 3rd party involved.  This is the entity that guarantees that you as the principal will act in accordance with the bond.
International Performance Surety Bond Oil delivery

International Performance Surety Oil delivery

Surety Bond

The Bond is an instrument of credit that helps to support your ability to secure a contract, license, or permit etc. Whether you may ask “What is a Surety Bond” or are in need of one, Seaman’s Insurance Group is Florida’s premier boutique independent Surety Bond and Insurance Agency agency.  We are here to help you with all of your bonding needs including but not limited to bid bonds, contract bonds and maintenance bonds.  We can are here to help you with your contract bonds whether they are domestic (here in the USA) or international (contract elsewhere in the world). We have access to many sureties. When you work with us you are working with a time tested professional that truly wants to help you grow and reach your goals.

Contact us now for all of your bonding and insurance needs by emailing Matt@SeamansInsuranceGroup.com now!

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