A Surety Bond is a three-party agreement whereby the surety guarantees to the obligee (the project owner) that the principal (the contractor) is capable of performing the contract in accordance with the contract documents. Performance of the contract, which is the subject of the bond, determines the rights and obligations of the surety and the obligee.
Here are the eight different families of surety bonds:
Public Official Bonds
License and Permit Bonds
Contract Bonds (Bid and Performance Bonds)
Miscellaneous and Federal Bonds
One time Bid or Full Bonding Line
Multiple options are at hand to solve your bonding needs, some without financials.
Having an established bond line can enhance the ability of a contractor to secure work.
You want you bonding line in place before you need a bond!
Just like a bank line of credit, when you need money, it’s easy if your line is already in place.
Don’t wait! Set up your line and limit now.
Why hesitate? Let us help you land the project!
Contact Davies & Davies in Sewickley to start your Bond program today.
Davies & Davies Insurance Inc. offers free, comparative quotes on surety bonds from multiple insurance carriers so you can get the best possible rate.
Want to see how much we can save you? Just request a quote to find out.
September is Life Insurance Awareness Month.
It’s the perfect time to remind ourselves to plan ahead for the ones we love.