What happens if there is a claim on a surety bond 3 things
Many people that are new to needing a surety bond, contract bond, performance bond or bid bond have likely not given thought to what happens if there is a claim on a surety bond.
What might cause a claim on a surety bond and 1 bad example of what to watchout for
What might cause a claim on a surety bond? Many times when the subject of a surety bond and contract bond comes up we get asked many questions. One of those questions includes What might cause a claim on a Surety Bond. When a claim is made on a surety bond, it can...
Is there more than one type of Contract Bond?
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?
Who Needs a Surety Bond? Surety Bonds like insurance are needed by both businesses and people for a myriad of reasons.
Why do Surety Bonds require Indemnity Agreements?
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?
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.
Nonstatutory Bonds
With Nonstatutory bonds, private sector entities require a bond be obtained. They could be a private business or even an individual.
Statutory Bonds
Statutory Bonds are surety bonds that are being required by municipal ordinance, federal/state regulation or statute.
Transfer Risk with Surety Bonds
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
URGENT CYBER BULLETIN – IMMINENT RANSOMWARE THREAT
