Is a surety bond a type of insurance? Why would I need one?
A surety bond is actually not insurance – it’s a type of guarantee. The surety guarantees that a contractor will complete a stated obligation. In general, surety bonds help protect consumers from fraud and ensure that you, as a business owner, follow proper regulations.
Surety consists of many different types of bonding. At Tedford, we specialize in construction contract bonding, which means we help contractors develop their company to enable them to qualify for the largest bonding programs available.
We also handle non-contract surety bonds such as:
- License and permit bonds
- Public official bonds
- Notary bonds
- Court bonds
- And many other miscellaneous surety bonds
The Tedford Surety Bond Department’s experienced professionals are ready to handle any bonding situation that your company encounters. We are responsive, have great surety contacts, and can handle both contract and non-contract types of bonds. We pride ourselves on going the extra mile to get your company exactly what you need.
Surety bonds are required by law in a number of industries and for a wide range of contracts. If you are required to get a bond, your company will need to complete a financial evaluation. We can assist you with all of the necessary steps to complete the process.
It takes a lot of trust for you to allow us to evaluate your company for surety credit – and we don’t take that for granted. We’re on your side and remain committed to doing whatever it takes to help you take your company to where you want it to go.
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