Surety Bonds

Surety Bond is a three-party agreement whereby the surety guarantees to the obligee (the project owner) that the principal (the contractor) is capable of performing the contract in accordance with the contract documents. Performance of the contract, which is the subject of the bond, determines the rights and obligations of the surety and the obligee.

Here are the eight different families of surety bonds:

Fidelity Bonds
Public Official Bonds
Judicial Bonds
Fiduciary Bonds
License and Permit Bonds
Contract Bonds (Bid and Performance Bonds)
Miscellaneous and Federal Bonds
Notary Bonds