Month: June 2017

The infographic titled, “6 Steps to Apply for a Surety Bond Online” describes the various important steps to avail surety bond online. A surety bond is an assurance by a surety (guarantor) to pay the one party (obligee) a certain amount in case the other party (the principal) fails to comply with the terms and conditions of the contract. Continue reading Infographic : Important Steps to Get a Surety Bond Online read more

Unlike various other types of surety bonds that protect the consumer, a utility deposit bond protects the utility company by ensuring it receives a timely payment. A utility bond provides a financial guarantee that a person using the services of a utility company will pay for the utilities on time. A number of private utility companies, including water companies and power companies, demand utility bonds in certain situations. Continue reading Things You Need to Know About Utility Deposit Bonds read more

A surety bond is a kind of contract intended to protect the recipient against losses in the event of failure of a second party to meet a specific obligation. The bond usually involve three parties: the principal, the obligee, and the surety. A surety bond not only provides protection against losses; it also demonstrates the credibility and the ability of the principal to meet the obligations. For this reason, a large number of businesses and contractors use surety bonds as a means to guarantee t read more