Surety Bonds Protecting Your Investment

Many people get insurance for surety bonds. A party requesting a surety can give the party proposing the project a performance or payment guarantee with the help of surety bonds. Surety bonds are financial assurances to a third party provided by the party requesting the bond that they will fulfill their end of the agreement.In the event that the company defaults on its responsibilities, the surety bond reimburses the Oblige (or project awarding authority) for any lost profits or property damage. To learn more about what a surety bond is, go to the Surety Seven website.