Help From Surety Bond Companies

If you’ve been looking for the help of a surety bond company, then The Service Insurance Company can help get you the bonds that you need. We are a bonding company that can help you achieve your goals and is rated (A) by A.M. Best. We also participate in the Small Business Administration (SBA) Small Contractor Bond Program.

Surety Bonds

A surety bond is a legally binding obligation between three parties: the person who needs a bond and has the obligation to perform (which is known as the Principal), the person or entity who requires the bond (known as the Oblige, which is in many cases a public body such as a township or state), and the bonding company guaranteeing that the obligations of the Principal will be fulfilled.

The bonding company is known as the Surety, and it is important that you deal with a surety company that is highly rated by A.M. Best, an organization that performs evaluations for most of the major insurance companies around the world.

You might need a surety bond for any number of reasons. Sometimes a court might require you to get one. Bonds are helpful in many types of businesses as well because bonds protect you from work other contractors are doing for you.

Construction Bonds

You might choose a surety bond to protect a construction project you are developing and want to have the contractor provide a performance bond to protect you from non-performance of the contract terms and to cover defects in the workmanship.

With construction projects, you would also benefit from a payment bond, which covers you if the general contractor goes out of business during the project and fails to not only perform but also to pay the subcontractors and suppliers on the project, who, in turn, can file liens against your business.

You also need a bond as a contractor if you are bidding work to public owners or developers for their protection. These bonds are a way to help qualify your business so your clients know you have a bonding relationship with a highly rated Insurance Company by A.M Best.

Surety Bond Companies

Surety bond companies are typically insurance companies that help protect both parties from financial difficulty if something doesn’t go as expected. Be sure to deal with a reputable insurance company that is highly rated by A.M. Best.

We offer multiple kinds of bonds, but all of our services always provide innovative solutions, responsive service, personalized attention, and a collaborative process. When you work with us, we develop a solution that applies to you. Everyone’s situation is different. Because of that, we make sure that your surety bond options are personalized. We give you individual attention to ensure that your bond is what you need.

Contact Us

As with all bonding companies, we offer specific types of bonds and are licensed in certain states. Continue reading below to learn more about what we offer. If you have any questions, check out our FAQ, fill out our online contact form, or call us at (888) BOND-DAY (888-266-3329).

Providing:

  • Innovative Solutions
  • Personalized Attention and Responsive Service
  • Collaborative Process with Experienced Underwriters

Types of Contractor Bonds:

Types of Commercial Bonds:

Types of Court Bonds:

 

 

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