We represent companies & markets that can offer a broad portfolio of fidelity and surety products; including Bid, Performance, and Payment bonding for contractors.
Surety Bond-a Bond that is a three party agreement between a contractor (Principal), the project owner (Obligee), and the surety company. The bond insures that the contracted work will be completed on time and on budget and will cover any losses incurred by poor contract performance.
Fidelity Bond-a bond issued to protect an employer from financial or property losses due to the dishonesty of employees. Often these bonds are issued when an employer hires ‘high risk’ employees.