Bid Bond
Guarantees that if bid of principal is low enough, they will be able to enter into a contract and file a Performance Bond.
Performance Bond / Contract Bond
Guarantees that the contractor will perform in accordance with the plans and specifications of a project.
Lottery Bond
A lottery bond is used to pay for the lottery sales agent’s failure to make prompt payments for lottery ticket sales, missing or stolen lottery tickets, or to pay for expenses the commission incurs in connection with the lottery sales agent’s license. Failure by lottery sales agents to transfer revenues to the commission in a timely manner could result in claim.
License and Permit Bond
Most businesses require permission from some governmental body to start and to continue in business and posting a bond guarantees that the laws, ordinances or regulations relating to that business will be complied with.
Employee Dishonesty Bond
This coverage form covers money, securities and property against loss caused by employee dishonesty or theft.
Fiduciary Bond
Guarantees faithful performance of duty by a fiduciary named in a will and appointed by the court as Fiduciary.
Guardianship Bond
Guarantees faithful performance of duty by a Guardian named in a will and appointed by the court as the Guardian.
Court Bond
This is any bond that is required to enable litigation and to pursue their remedies at law.