Public Official Bonds: What They Are and Who They Protect

Public officials, such as mayors and judges, take an oath to protect the public’s interest from fraud or unethical practices. However, what is put into place to make sure these public figures adhere to their oaths? Public official bonds are issued by a reliable surety company and guarantee that the public official will fulfill his or her responsibility sensibly, and according to the needs of the public. If the official is unable to do his or her job, the surety company will pay for the subsequent loss.The public official must then pay the surety company.

The premium value of public official bonds is usually between 1-4% of the total bond amount. This value depends on the credit score of the official, so it is important to maintain your credit history to have a reasonable premium.

Public officials who are required to get public official bonds are:

• All levels of city officials
• Court clerks
• Judges
• Tax collectors
• Law enforcement officers
• Commissioners
• City Managers
• And more