GUARANTEE PROFESSIONAL TRANSACTIONS

The principal is the individual or business that purchases the bond to guarantee future work performance. 

The surety (also known as a guarantor) is the insurance company that backs the bond. The surety provides a line of credit in case the principal fails to fulfill the task.

The obligee can make a claim to recover losses if the principal does fail to fulfill the task. If the claim is valid, the insurance company will pay reparation that cannot exceed the bond amount. The underwriters will then expect the principal to reimburse them for any claims paid.

Think of your surety bond as a form of credit. When things don’t go as specified in terms of agreement one of the parties receives compensation for that. However, in the case of a surety bond the risk is with the principal involved. You don’t have an insurance company paying for the damages instead you are held liable for that payment. The surety bond will put up the money to cover the claim, but you are responsible for paying it back with interest. The surety bond will protect you in an instance where something goes awry and you don’t have the means to pay the entirety of the claim at once. You can compare it to a credit card purchase, you don’t always have the capital right then, however you still need to pay it in full eventually. 

Experience and responsive service are hallmarks of the Corporate Risk Solutions Bond & Surety Division. Our professionals offer extensive experience in bonds & surety. We maintain excellent working relationships with "decision makers" within the major fidelity and surety companies to ensure that our clients' needs will receive prompt attention at the highest level in the industry.

In addition, skilled service assistants handle daily account servicing and coordinate marketing activities on a bond-by-bond basis. Further, our service assistants have widespread experience and training in the Fidelity and Surety Bond area.

With over 1,000 bond forms available via computer, our programs can print high quality questionnaires for immediate execution.