Is there more than one type of Contract Bond? If you are just discovering the Wonderful World of Surety or maybe have been asked to get a Contract Bond, you may have been doing some research and found there are more than one type of contract surety bond. You may find...
Who Needs a Surety Bond? Surety Bonds like insurance are needed by both businesses and people for a myriad of reasons.
If you are working on getting a surety bond, you will likely be asked to sign an indemnity agreement. The surety requires that the obligee pay the surety back from loss.
How is a surety bond like a loan? When qualifying for a surety bond, for many, the surety will run your credit report to find a financial responsibility score.
With Nonstatutory bonds, private sector entities require a bond be obtained. They could be a private business or even an individual.
Statutory Bonds are surety bonds that are being required by municipal ordinance, federal/state regulation or statute.
People, businesses and governmental entities transfer risk with surety bonds. Seaman’s Insurance Group is your premier boutique independent surety bond and insurance agency.
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Basics of Surety Bonds: A Surety Bond is a risk transfer tool. Risk managers use surety to handle some potential loss exposures. Contact us today!
Who Needs a Surety Bond? Who needs a surety bond? Surety Bonds, like insurance are needed by both businesses and people for a myriad of reasons. Like insurance, there is a plethora of reasons why someone or a business may need a surety bond. Who Needs a Surety Bond...