Benefits of a Public Official Bond

How can you ensure that a public official will act ethically and responsibly? How can you be sure that a public figure is keeping the public’s interest as a priority? Public official bonds are required to hold certain positions, which guarantee that if a public official does not act honestly and fulfil their responsibilities, they will have to pay the penalty for it. Public official bonds are usually required by states, cities, school districts, sheriff departments, court offices, federal government, and more.

The premium for this type of bond is usually between 1 to 4% of the principal value. Credit score also plays a primary role in calculating the amount of the premium.

How can a public official bond help?

• It holds the public official accountable to do his or herjob properly
• The bond can protect against any dishonesty, neglect, or omission done by the public official
• It can keep everything transparent, from the beginning till the end
• It can ensure you of a claim if there is any default