People, businesses and governmental entities transfer risk with surety bonds. Here are a few examples of how a surety bond how requiring that a surety bond be in place would help transfer risk from the party requiring the bond to the surety company:
- A trustee, or say an executor/executrix of an estate misuses assets of the estate or places the assets negligently invests them. A Probate bond would transfer the risk.
- A construction contractor fails to do what they were contracted to do or they fail to pay their contractors, a Performance Bond or Payment Bond.
- Should a public official fail to secure funds which may lead to the funds being stolen, a Public Official Bond could be used to transfer the financial risk.
- An import bond would be used to transfer risk if an importer fails to pay penalties, dues or fines.
Surety Bonds in the US and International
Seaman’s Insurance Group is your premier boutique independent surety bond and insurance agency. Proudly headquartered in the oldest city in the nation, St. Augustine, Florida. We are able to help with all of your surety bond needs in Florida, Maryland, Delaware, Georgia, Texas, New Jersey and more! We are positioned to help you with all of your surety bond needs in the USA. We have the distinct capability of helping you with your International Bid Bonds, International Performance Bonds and International Bid
Bonds. Whether you are shipping goods from a port in South America to a Port halfway around the world or performing services on a US Military Base anywhere in the world, we offer our expertise and unmatched capabilities to you! We can help with your Surety Bonds in the US and International Bonding needs!