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.
URGENT CYBER BULLETIN – IMMINENT RANSOMWARE THREAT
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...
What is Surety? Defined What is Surety? Defined: Surety is a guarantee that an undertaking will be completed. Surety in other words is a bond or instrument of credit. What is a Surety What is a Surety? A Surety is one that becomes legally liable for the...
What is a Surety Bond? What is a Surety Bond? A bond brings 3 parties into a contract with each other. Those parties are: The Principal (most likely this is you and you have been asked to get a bond by the); Obligee, the party that is requiring the principal to obtain...