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Bonds
Contract Surety Bonds
Contractors are often required to post a bond before beginning work
on a project. A surety bond is a three-party agreement where the surety
company assures the obligee (owner) that the principal (contractor)
will perform a contract. Surety bonds used in construction are called
contract surety bonds.
There are three types of contract
surety bonds:
- A bid bond assures that a bid has been submitted in good faith
and that the contractor will enter into the contract at the price
bid and will provide the required performance and payment bonds.
- A performance bond protects the owner from financial loss should
the contractor fail to perform the contract in accordance with
its terms and conditions.
- A payment bond assures that the contractor will pay specified
subcontractors, laborers, and material suppliers on the project.
Commercial Surety
Curtis Insurance can help you obtain a variety of commercial surety
bonds, including license and permit bonds, probate bonds, court bonds,
notary bonds, notary errors and omissions policies, public official
bonds, federal bonds and other miscellaneous bonds.
Fidelity and Dishonesty Coverage
Some businesses need to protect their business assets from theft by
employees and volunteers. We can help you find coverage for not-for-profit
and professional organizations, as well as associations. Coverage
is available for all employees, volunteers, and non-compensated officers.
We also provide name or position scheduled coverage, business service
bonds, and ERISA fidelity.
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Need
a Performance or Bid Bond … RIGHT NOW?
We offer Contract Bond programs that make bonding FAST
and CONVENIENT.
Look at these features:
• Simplified application
• For bonds up to $200,000
• Aggregate limit $400,000
• Fast turnaround
And for your smallest
jobs, get on the FAST-Track, which offers:
• $100,000 limit
• One-page application
• No financial statements required
• 48-hour turnaround
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