We understand surety.
Our surety expert has spent time in steel toe boots.
We understand the impact and importance for timely delivery of bonds for your business projects. Our relationships with our various surety partners and clients creates a trust which streamlines the bonding process.
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Surety Bonds Solutions
What is a surety bond?
A surety bond is a three-way contract between the obligee, the principal and the surety.
It is a promise to pay one party (the obligee) a certain amount of money if a second party (the principal) fails to meet their obligations. This can mean failure to fulfill terms of a contract, failure to complete a construction project, and can even cover instances of employee theft.
Why you need a surety bond?
A surety bond guarantees that the principal will perform the duties they have been hired to perform. Surety bonding is an essential tool that can increase your customers’ trust in your business, build your reputation in your industry while ensuring your business can operate efficiently from a cash flow perspective.
Your business may also be required to post a bind as part of your licensing requirements. These type of surety bonds typically guarantee that the principal will comply with any codes or regulations established by the obligee, who is usually a government body such as a city, town, or municipality.
Which industries typically use a surety bonds?
- Construction & Trades
- Renewable Energy
- Information Technology (IT)
- Trucking & Logistics
Why choose Gifford Carr Insurance Group as your surety partner?
- Educated and experienced brokers working our surety files
- Our lead broker spent the first half of his career working in construction. He has a clear understanding of the needs for your business in securing surety bonding.
- Timely response
- We pride ourselves on understanding the priorities of timelines for surety and work on our client’s team to ensure they have the bonding in place to move forward with projects and bids. After all, your business is our business.
- Quick set-up for new surety files
- We understand the importance to have your file set up correctly the first time, so you have the information insurers need to approve bonds quickly going forward!
- We work with ALL classes of construction and non-construction surety bonding files
- We get it. Surety is not only for construction. Understanding the process for surety enables us to apply our knowledge to a broad range of industries to secure their surety needs. Including manufacturers, IT, suppliers, engineering projects and more!