A surety bond is a promise to be liable for the debt, default or failure of another. It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee). We write surety bonds of all kinds, but here a few of those that we write most often:
Contractor & Construction Bond: Guarantees the performance of a contractor for a construction contract.
Probate Bond: A court bond that ensures the final wishes of the deceased individual are carried out in a manner that is considered ethical. Probate bonds are also known as estate bonds, guardianship bonds, administrator bonds, trustee bonds, etc.
Liquor Bond: A specialized surety bond that's specifically designed for retailers who sell alcoholic beverages.
Utility Bond: Guarantees a person or organization will pay for utlilities on time. Most utility companies require customers who are projected to use a large volume of utilities to be bonded before utility services are turned on.