bond types provided
City & County Bond
Contract Bid Bond
Performance & Payment Bond
Financial Obligation Bond
License Agent Bond
Motor fuel Distributor Bond
Motor Vehicle Certificate of Title Bond
Motor Vehicle Dealer 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.