SURETY BONDS
Bonds issued by the Company serve as a guarantee that the Principal fulfills obligations to the Obligee under the agreed contract. These bonds answer for the liability of the Principal (Contractor) to the Obligee (Owner) in case of default.
Here are the types of bonds that we issue:
CONSTRUCTION BONDS
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Bid Bond
Guarantees that the winning bidder will enter into the contract and provide the required performance bond.
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Performance Bond
Ensures the contractor completes the project according to contract terms and conditions.
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Advance Payment Bond
Secures that any advance payment released by the project owner is properly used for its intended purpose.
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Warranty/Guaranty Bond
Assures the project owner that the contractor will correct defects or honor warranty obligations during the warranty period.
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Retention Money Bond
Allows the contractor to withdraw the retention money withheld by the project owner, while guaranteeing that defects or obligations during the warranty period will be fulfilled, otherwise the surety answers up to the bond amount.
JUDICIAL BONDS
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Administrator/Executor’s Bond
Ensures administrators or executors of estates faithfully perform their duties.
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Attachment Bond
Protects against damages if an attachment is later found wrongful.
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Guardianship Bond
Guarantees proper management of assets belonging to a minor or incapacitated person.
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Heirs’ Bond
Ensures heirs settle valid claims before distributing estate assets.
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Replevin Bond
Guarantees return of property in cases involving recovery of personal property.
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Receivership Bond
Ensures that a receiver appointed by the court performs duties faithfully.
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Injunction Bond
Protects the restrained party if an injunction is later declared wrongful.
LICENSE AND PERMIT BONDS
Real Estate Broker’s Bond
Guarantees licensed brokers comply with laws, rules, and regulations governing their profession.
FIDELITY BOND
Fidelity Bond
Protects employers against losses caused by employee dishonesty, such as theft or fraud.