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A+ company to do business with. No hassle and they didn't try to over charge like another big name bond company that is all over the internet. I will definitely be dealing with this company from here on.
Zachary Creel
I was extremely pleased with not only the rate I received but the excellent communication. I appreciated receiving a follow up phone call to humanize the experience rather than being bombarded with emails.
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What is a Surety Bond?
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A surety bond (pronounced "shur-i-tee bond") can be defined in its simplest form as a written agreement to guarantee compliance, payment, or performance of an act. Surety is a unique type of insurance because it involves a three-party agreement. The three parties in a surety agreement are:
Principal
The principal is an individual, business or other party that purchases the surety bond and agrees to undertake a compliance, payment or performance obligation as promised pursuant to the terms of the surety bond form or agreement.
Surety
The surety is the insurance company or surety company that guarantees the obligation will be performed. If the principal fails to perform the act as promised, the surety is contractually liable for losses sustained.
Obligee
The obligee (pronounced ob-li-jee) is the party who requires and often times receives the benefit of the surety bond. For most surety bonds, the obligee is a local, state or federal government organization.
Expert Surety Bond Insights
What role do surety bond companies play in the business and legal transactions that keep our world running?
In some cases a seller may intentionally or accidentally sell the vehicle without the proper title paperwork. Under these circumstances the vehicle owner may need to a type of surety bond call a certificate of title bond.
To ensure that they conduct their business honestly, immigration service providers often have to obtain an immigration service surety bond.
Getting a California insurance broker license can be the start of an engaging and lucrative career. These are the steps you’ll need to follow to do it.