|Surety bonds provide a financial guarantee that contracts and other business deals will be completed according to the agreed terms. Surety bonds protect consumers and government entities from fraud and malpractice. When a principal breaks a bond's terms, the harmed party can make a claim on the bond to recover loss.|
Each surety bond acts as a three-party contract legally binding together the principal who needs the bond, the oblige who requires the bond and the surety company that sells the bond. The bond guarantees the principal will act in accordance with the contract and if they fail to perform, the bond will cover the damages or losses.
Sample uses of a Surety Bond:
At Columbian Agency, our surety professionals provide you with a high level of expertise not found in most agencies. Our experts can provide the following:
We have access to major bonding companies giving us the opportunity to secure the most convenient, confidential bonds at highly-competitive rates.
Contact us today for more information about Surety Bonds.
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Borrowing our name from the 1893 Columbian Exposition that celebrated innovation in America, we’ve built our firm by developing innovative insurance and risk management solutions for our clients. Finding effective solutions requires knowledge, commitment and perseverance. It all starts by doing things the right way—from the beginning.