A Bond is a form of insurance that provides protection against internal fraud, theft or incompetence and while some business are required by law to purchase bonding insurance most often it’s a requirement for doing business. Here are a few examples of the bonds that we can provide:
Contract bonds – A contract bond ensures the if the obligations of a contract are not me the client will be compensated. For example, if your firm fails to complete a project the bonds is paid directly to the client allowing them to hire another business to complete the work that was started, this is a very common type of bond in the construction industry.
Fidelity Bonds – Fidelity bonds are a protection against losses caused by employee dishonesty, for example when your business purchases a fidelity bond it can receive compensations if an employee steals from the business or causes damage to a client’s property. Coverage can be extended from one employee or all of them depending on your individual need.
Miscellaneous Bonds – Environmental bonds, customs and excise bonds or permit bonds are all examples of miscellaneous bonds. Regardless of the type of bond you require our team of experts can