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Tag search results for: "commercial surety bonds"
timscott Member
This info-graphic titled “An Insight into Different Types of Commercial Surety Bonds” lists the overview of types of commercial sureties. Commercial surety bonds are required to satisfy or guarantee governmental legislation, fiduciary obligations, and private contractual responsibilities of the applicant or the principal under the bond. The bond consists of agreements between three parties: the surety (issuer of the bond), the obligee (party which is receiving the goods or services in the contract), and the principal (party which is receiving the goods or services in the contract). More people are noticing the importance of surety bonds, but many still don't realize what the different types of surety bonds even are. And once you understand the different types of commercial surety bonds on the market, you'll have fair warning when dealing with businesses that require this sort of financial instrument.

Whether you are a business owner looking to get bonded or an individual seeking bonds for a particular service you provide, it is important to understand the different types of commercial surety bonds and what they mean for your business. For more details, refer to the info-graphic below.