What is it?
Surety bonds are required to protect the public. They guarantee obligations will be fulfilled, whether its a contract bond guaranteeing a public construction project will be completed, a license bond guaranteeing an auto dealer will abide by the laws or a court bond that guarantees a legal guardian will handle a minor’s finances properly.
Why do I need it?
Surety bonds are required to protect the public. These specific examples are a small overview of the hundreds of surety bonds out there, but they all have one thing in common; they protect the public, not you.
What type of bonds are there?
There are many types of bonds such as:
1) Contract Bonds
2) Commercial Bond
License and Permit Bonds – Contractor License; Highway and Street Permit; Agent/Adjuster/Broker License; Fuel Dealer; Professional License; Automobile Dealer; and Alcoholic Beverage Compliance Bonds
Probate Bonds – Administrator; Executor; Guardian; and Trustee Bonds
Receiver or Trustee Bond in Bankruptcy
Public Official – Notary Public; Sheriff; Deputy Sheriff; Constable; Jailer; County/City/School Treasurer Bonds; Court Clerk; Loan Closing Attorney; and FHA Schedule Bonds
Court Bonds – Plaintiff Replevin; Plaintiff Attachment; and Cost Bonds
3) Fidelity Bonds
ERISA (Pension Plans),
Business Services Bonds (e.g. janitorial, home health care or security)
4) Financial Institution Bonds and D&O Coverage
Commercial Banks and Savings Institutions, etc.
Directors and Officers
Call Sumner Insurance Services to discuss your specific situation. We work with many companies so we are able to do any size bond for almost any situation. We offer no cost, no obligation consultations. Stop by or call our office today!