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Jane Bond Insurance Agency - Surety Bond Types

Surety Bond Band

So what is a surety bond anyway?

A surety bond is a contract among at least three parties: 1) The principal - the primary party who will be performing a contractual obligation, 2) The obligee - the party who is the recipient of the obligation, and 3) The surety - who ensures that the principal's obligations will be performed.

Through this agreement, the surety agrees to uphold—for the benefit of the obligee—the contractual promises (obligations) made by the principal if the principal fails to uphold its promises to the obligee. The contract is formed so as to induce the obligee to contract with the principal, i.e., to demonstrate the credibility of the principal and guarantee performance and completion per the terms of the agreement. Contract bonds guarantee a specific contract. Examples include performance, bid, supply, maintenance and subdivision bonds. Commercial bonds guarantee per the terms of the bond form. Examples include license & permit, union bonds, etc.

Bail Bonds

Bail bonds are surety bonds used to guarantee the entire bail amount if the accused party fails to show up to court. For a quote use our sister company 8th Amendment Bail Bonds. Start here

Commercial Bonds - License and Permit

A bond protects consumers and is required by the licensing body that issues the entity it's occupational license or permit. For list of the more common commercial bonds select your state - start here.

Court & Fiduciary Bonds

These bonds are sometimes required by a court. There are many court bonds and each one serves a specific purpose. For a list of court bonds - start here.

Contract Surety

A surety bond that guarantees the faithful performance of a contract. These bonds typically are called Bid Bonds, Performance Bonds, Payment Bonds, or Labor & Material Bonds. You do not have to be in construction for a requirement of any of these bonds. For a list of contract bonds select your state - start here.

Customs Bonds

Customs Bonds (also known as Surety Bonds) are required by the U.S. Customs Service as a means to ensure that importers guarantee payment in the event that liquidated damages are assessed against shipments imported into the country. A bond is intended to protect the U.S. government in the event the importer cannot or will not fulfills their obligation to pay monies due.

Miscellaneous Surety Bonds

This group of bonds are the bonds that don't necessarily fit into any of the other categories above.

Surety Bonds - Nationwide

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