Surety bonds

Surety Bonds

Surety bonds guarantee you'll fulfill contractual obligations or comply with licensing requirements, providing financial protection to the party requiring the bond if you fail to meet your commitments. Unlike insurance that protects you, surety bonds protect others from your failure to perform, with you remaining ultimately responsible for reimbursing the surety company for any claims paid on your behalf.

Contract bonds guarantee you'll complete construction or service contracts according to agreed terms. Bid bonds guarantee you'll enter into the contract if you're the winning bidder, performance bonds ensure you'll complete the work as specified, and payment bonds guarantee you'll pay subcontractors and suppliers. Public projects and many large private contracts require these bonds to protect project owners from contractor default.

License and permit bonds ensure businesses comply with laws and regulations in specific industries. Many Texas professions and business types require surety bonds before licensing, including auto dealers, mortgage brokers, freight brokers, and various contractors. These bonds protect consumers and the state from violations of regulations governing your business activities.

Court bonds cover various judicial proceedings including appeal bonds, guardian bonds, and executor bonds required when handling estates. The bond guarantees you'll properly perform your duties as ordered by the court. Getting bonded demonstrates your business's financial stability and trustworthiness because surety companies evaluate your credit, financial strength, and track record before issuing bonds. We work with surety markets to help you obtain required bonds quickly and at competitive rates, explaining the bonding process and your ongoing obligations so you understand what you're committing to when executing surety agreements.