What Is A Surety Bond?

Surety bonds guarantee performance for a set of particular risks. Each surety bond must be uniquely tailored to meet specific needs.

A surety bond is an agreement under which one party, the surety, guarantees to another party, the obligee, the performance of an obligation by a third party, the principal.

Some of the more common types of surety bonds include:

Contract Surety:

These are bonds that the government or an owner of a construction project may require a contractor to obtain.

Commercial Surety

Bonds required of individuals or businesses by the government, legislation or by other entities. License and permit bonds: required by state, municipal or federal ordinance or regulation. These bonds may be required as a condition for engaging in a particular business or exercising a particular privilege. Examples include performance and payment bonds, customs bonds, tax bonds and warehouse bonds.

How can Elite Business Insurance help you decide which company is best to use?

Here at Elite Business Insurance, LLC, we make sure to shop hundreds of carriers for each client.

Known throughout the industry as an established independent insurance agency gives us an advantage to the everyday business owner.

Rather than placing a square peg in a round hole, we mold your specific surety bond needs into various scenarios offering the best possible carriers with the best prices.

Give us a call to obtain your FREE QUOTE 813-922-3055!!! We look forward to helping you……..