A surety bond is an important tool for businesses operating mainly in the following fields:
- Construction or general contractors
- Manufacturers and factory owners
- Transportation and logistics companies
Surety bonds are issued by a specialized insurer, as the endorser, but are not considered an insurance policy or contract. Instead, the surety bond is seen as a guarantee protecting the beneficiary (client) against financial losses due to a debtor’s (contractor) failure to comply with contractual obligations. Our commercial lines insurance brokers have access to insurers specialized in surety bonds to safeguard your contractual agreements.
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