Commercial bonds
Commercial contract bonds help protect customers by ensuring businesses meet the terms of their contracts and complete work as agreed. These bond types include but are not limited to:
- Supply Contracts
- Security Services
- Janitorial Services
- Busing
- Food Service
Court Bonds are financial guarantees required in legal proceedings to ensure individuals or entities comply with court directives. These bonds may cover obligations such as appearing in court, paying judgments, or responsibly managing an estate. They help protect involved parties from potential financial loss due to noncompliance or misconduct.
These bond types include but are not limited to:
- Plaintiff
- Defendant (collateralized)
- Court Cost
Customs Bonds are financial guarantees required by U.S. Customs and Border Protection (CBP) that ensure importers comply with all customs regulations. These bonds guarantee the payment of duties, taxes, and fees associated with importing goods into the United States, helping to protect the government from financial loss due to non-compliance.
Federal Bonds, often referred to as Treasury Bonds, are long-term debt securities issued by the U.S. federal government to raise capital for public spending. These bonds pay periodic interest to investors and return the principal at maturity, offering a low-risk investment backed by the full faith and credit of the government.
These bond types include:
- Brewers and Distillers
- Postal Contract Station
- Freight Brokers
- DMEPOS (pharmacies and skilled care facilities)
Fiduciary Bonds, also known as probate bonds, are court-required surety bonds that ensure individuals entrusted with managing another person’s assets act in good faith and in accordance with the law. These bonds protect beneficiaries and other interested parties from potential mismanagement or misconduct.
These bond types include:
- Administrator and Executor
- Guardian and Conservator
- Guardian of Minor
- Trustee
- Receiver
Ensures businesses are compliant with laws and regulations, protecting the public and the government.
These bond types include but are not limited to:
- Contractors License – local and state
- Motor Vehicle Dealer
- Certificate of Title
- Mortgage Broker and Lender
- Agricultural Dealers and Warehousing
Miscellaneous Bonds are a broad category of surety bonds that don’t fall under standard classifications like construction, court, or license and permit bonds. These bonds are tailored to support unique business arrangements or private obligations, often required to enforce laws, fulfill contractual terms, or provide financial assurance in specialized scenarios. They are commonly used by businesses and professionals to meet specific regulatory or contractual requirements.
These bond types include:
- Utility Deposit
- Nursing Home Patient Trust
- Workers’ Compensation
- Lost Instrument
Notary Bonds are surety bonds that protect the public from financial harm caused by a notary’s negligence, misconduct, or failure to perform their duties according to law.
Notary Errors & Omissions (E&O) Insurance complements the bond by providing coverage for the notary personally, safeguarding them against claims arising from unintentional mistakes made during notarizations.
Public official bonds are a type of surety bond that ensures public officials perform their duties ethically, lawfully, and in accordance with all applicable regulations. These bonds provide financial protection to the public by guaranteeing compensation in cases where an official engages in misconduct, negligence, or fails to fulfill their legal responsibilities.
These bond types include but are not limited to:
- Treasurer and Tax Collector
- Sheriff
- Judge
- Clerk
Site improvement and subdivision bonds help ensure required infrastructure—such as roads, utilities, and sidewalks—is completed according to local regulations, protecting communities and municipalities.