SURETY BONDS

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License and Permit Bonds

These are required by government agencies when professionals apply for a license. Typical principals include plumbers, electricians and contractors.

Mortgage Broker Bond

This type of bond protects borrowers from improprieties taken by mortgage brokers and ensures that mortgage brokers adhere to state regulations.

Payment Bond

Payment bonds guarantee that the contractor will pay its subcontractors, laborers and material suppliers as specified in the contract. This type of bond is required in most federal and commercial construction projects.

Employee Dishonesty Bond

This type of bond protects a business from losses due to employee dishonest behavior. It is often used by nonprofit organizations.