What are my options for obtaining a surety bond? There are a few options available to you when it comes to obtaining a surety bond. You can either work with a professional surety company, or you can try to obtain one on your own through a variety of online sources. If you decide to go… Read More: How to Secure a Surety Bond? »
How Do Surety Bonds Differ from Insurance? Insurance and surety bonds are both used to compensate a party for financial loss. Insurance is a contract between an individual and an insurance company whereby the individual makes periodic payments to the insurance company, which, in turn, agrees to pay damages resulting from certain defined contingencies. A… Read More: Basic Concepts About Surety Bonds You Must Be Aware Of »
Why do you need to renew your surety bond annually? Surety bonds must be renewed annually in order to maintain their validity. This is because the bond protects the interests of both the obligee and the surety. By renewing the bond annually, the surety can ensure that they are still protected if the principal fails… Read More: Why Does The Surety Bond Need To Be Renewed? »