Surety Bonds

Surety Bonds

Does Your Company Need Surety Bonds or Bond Services? In the current business environment, surety bonds are becoming a more common requirement. Arranging the proper surety program with the appropriate carrier is a complex task. Our accounting knowledge and surety experience allows us to analyze and understand a client’s financial statements so that the bond application is presented in the most advantageous manner. What is a Surety Bond? A surety bond is a guarantee made by a surety company to an owner (obligee) that a contractor (principal) will complete the agreed upon contract. In addition the surety guarantees that the contractor will pay all of his subcontractors and vendors to prevent any liens being made against the construction project.

Surety Bonds are comprised of Performance Bonds, which guarantee the performance of the contract, and Payment Bonds, which guarantee the contractor will pay his subcontractors and vendors.

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