Your Guide to Financial Protection and Compliance
A surety bond is a legally binding contract that guarantees specific obligations will be fulfilled. Unlike insurance that protects the policyholder, a surety bond protects the party requiring the bond, whether that’s a government agency, court, project owner, or regulatory body.
Surety bonds serve as a financial safety net, ensuring that:
Whether you’re a contractor bidding on a project, an executor managing an estate, or a business owner obtaining a required license, surety bonds demonstrate your credibility and commitment to fulfilling your responsibilities.
Every surety bond involves three parties, each with distinct roles and responsibilities:
The individual or business obtaining the bond. The principal is responsible for fulfilling the obligations outlined in the bond agreement.
Example: A contractor performing work, an executor managing an estate, or a business owner obtaining a license.
The party requiring the bond. The obligee is protected by the bond and can file a claim if the principal fails to meet their obligations.
Example: A government agency, court, project owner, or regulatory authority.
The company that issues the bond and guarantees the principal’s obligations. If a valid claim is made, the surety compensates the obligee and seeks reimbursement from the principal.
Example: ABC Surety Bonds, backed by A-rated insurance carriers.
When you obtain a surety bond through ABC Surety Bonds, you’re demonstrating financial responsibility and commitment to your obligations. We handle the underwriting, issuance, and ongoing support, making the bonding process as straightforward as possible.
Court bonds provide financial protection in legal proceedings by ensuring individuals fulfill court-ordered obligations. Whether appealing a judgment, filing an injunction, or securing property during litigation, court bonds help move cases forward while safeguarding all parties involved.
Probate bonds ensure that executors, guardians, trustees, and other fiduciaries manage estates and assets responsibly. These bonds protect heirs, beneficiaries, and vulnerable individuals from mismanagement, loss, or misuse of funds during estate or guardianship administration.
Contract bonds support construction projects by guaranteeing that contractors submit honest bids, complete work according to contract terms, and pay subcontractors and suppliers. These bonds provide essential financial security for project owners and government agencies at every stage of the construction process.
License and permit bonds help businesses meet state and local regulatory requirements across a wide range of industries. They ensure companies operate ethically, follow industry laws, and provide protection to consumers and government agencies from noncompliance or financial loss.
Fill out our quick online form or call us directly. Provide basic details about the bond you need, including type, amount, and location.
We work with top-rated carriers to get you approved quickly, often the same day. You’ll receive transparent pricing with no hidden costs.
Once approved, your bond is issued and delivered electronically or by mail. We stay with you throughout the bond term to ensure smooth renewals.
Surety bond costs vary based on the bond type, bond amount, and your financial qualifications. Most bonds cost between 1-15% of the total bond amount annually. Contact us for a personalized quote. We offer competitive pricing backed by A-rated carriers.
Most common bonds are issued the same day, often within 1-3 hours of application approval. More complex contractor or court bonds may take 24-48 hours depending on underwriting requirements.
Basic information typically includes your name, contact details, business information (if applicable), bond type, bond amount, and the obligee requiring the bond. For larger bonds, financial statements or credit checks may be required.
Yes! ABC Surety Bonds is licensed and actively writing bonds in Pennsylvania, New Jersey, New York, Delaware, Maryland, Ohio, West Virginia, Tennessee, and Florida. We regularly assist customers nationwide and can often support clients in additional states.
Insurance protects the policyholder from loss, while a surety bond protects the party requiring the bond (the obligee). If a claim is made against a surety bond, the principal (bondholder) is ultimately responsible for repaying the surety company.
In many cases, yes. While credit is a factor in surety bond underwriting, we work with multiple carriers and can often find solutions for applicants with less-than-perfect credit. Contact us to discuss your specific situation.
Bond terms vary. Some bonds are one-time requirements (like appeal bonds), while others renew annually (like contractor license bonds). We'll help you understand your bond's term and handle renewals seamlessly.
Whether you need a bond today or just want to learn more about your options, ABC Surety Bonds is here to help. Get your free quote in minutes.
