Purpose

To set forth the procedure to obtain necessary bonds.

Guidelines

Bonds may be required for various reasons by numerous parties. Some of the more common types of bonds which you may come in contact with are:
• Surety Bond
• License and Permit Bonds
• Construction and Related Contract Surety Bonds such as:

  Bid Bond,
  Performance Bond,
  Payment Bond
  Customs Bond

Bonds are not insurance in the traditional sense but rather a financial guarantee that insures that a stated obligation will be fulfilled or there will be a resulting financial penalty which is paid by the "surety". When a surety is required to make such a payment they will seek reimbursement from the client. Unlike insurance, if you have a loss you, the client, must pay it.

You will be working directly with our Insurance Broker to obtain necessary bonds. Arranging for a bond can take a considerable amount of time, therefore, it is important that you complete the necessary forms and submit them to the broker representative as soon as possible. Please complete the information on this form [LINK TO FORMS], print it and forward to our insurance broker.