Bonds Insurance

Bond Types Provided

City & County Bond Contract Bid Bond Performance & Payment Bond Court Bond Janitorial Bond Pension Bond Fidelity Bond Financial Obligation Bond License Agent Bond Medicare Bond Motor fuel Distributor Bond Motor Vehicle Certificate of Title Bond Motor Vehicle Dealer Bond Notary Bond Omnibus Nursing Home Bond Probate or Fiduciary Bond Distributee and Small Estate Bond Public Official Bond Sales Tax Bond Tax Preparer’s E and O Insurance Bond

We Can Provide You a Quote for all Bonds Listed Above

Please call 877-901-5544 and ask for Brian You may also click the link below to forward your information

Here are Some Common Bond Terms Defined

OBLIGEE: The party of a bond to whom the bond principal is guaranteeing they will fulfill their obligations. The city/ state ect. who is requiring the bond. PRINCIPAL: The party of the bond who is providing a financial guarantee to the obligee that they will do or not do a specific thing. The person paying the premium for the bond. PENALTY: This is the amount of the bond in dollars as required by the Obligee. INDEMNITY: The bond applicant (principal) will need to demonstrate an ability to pay back the bonding company for any loss or damage due to the failure of the applicant’s performance. The individual or company providing the indemnity (usually the principal) is called the indemnitor.

The Difference between Insurance and a Bond is Explained

The bond is not an insurance policy. An insurance Policy is a two-party agreement wherein the insured pays a premium to the company and receives the benefits of the policy should a claim occur. With a bond, the person who pays the premium is the principal. Yet in the event of a claim, he is the person who must also pay the loss.