Commercial Surety Bonds
旅行ers Knows Commercial Surety
旅行ers serves both domestic and international bonding needs for all types of businesses, from small businesses to multinational companies.
旅行ers also provides bonds for individuals, nonprofits, associations and franchises.
- Insurance companies
- Power and utilities
- 零售ers and wholesalers
Find an Agent
Need an Agent?
Get the personal service and attention that an agent provides.
Find a local agent in your area:
Types of Commercial Surety Bonds
There are several types of commercial surety bonds required of individuals or businesses by legislation, the government or other entities. They are designed to protect the public, prevent financial losses, regulate markets, and safeguard against fraud and unethical business dealings. The following are common types of commercial surety bonds:
License and Permit Bonds
In order to comply with federal, state or municipal ordinances or regulations, these bonds may be required as a condition to obtain permits or licenses necessary to engage in a particular business or exercise a particular privilege. These bonds guarantee that the person or company seeking the license or permit is able to do what the license or permit states; will comply with all laws, regulations and codes related to the project or action; and – in some cases – will be liable if a third party is injured or sustains damage due to the project or action.
Examples of license and permit bonds include performance and payment bonds, customs bonds, tax bonds, warehouse bonds, auto dealer bonds, mortgage lender bonds, mortgage broker bonds and contractor license bonds.
Court Bonds or Judicial Bonds
当有人追求一个动作在法庭上法院bonds or judicial bonds may be required of either a plaintiff or defendant in judicial proceedings. These bonds may be used to reserve the rights of the opposing litigant or other interested parties and ensure costs related to the lawsuit or legal action can be paid. These bonds include, but are not limited to, bail bonds, appeal bonds, attachment bonds, injunction bonds and replevin bonds (which deal with possession of assets and return of assets based on court decisions).
These surety bonds are required of those who administer a trust under court supervision. They protect heirs, beneficiaries and creditors in case a fiduciary performs dishonestly, negligently or incompetently, causing a loss of assets or other damages. Examples include executor bonds, trustee bonds, administrator bonds, conservatorship bonds, personal representative bonds and guardianship bonds.
Public Official Bonds
- Town supervisors
- Judges and court clerks
Related Products & Solutions
Surety Bonds for Banks & Diversified Financial Institutions
Follow this guide for tips to protect yourself as a notary.
Insights & Expertise
International Surety Bond vs. Letters of Credit
While international letters of credit and surety bonds are similar, there are important considerations that can make international surety bonds a more attractive alternative to letters of credit.