A surety bond is a three-party agreement that legally binds together a principal, an obligee, and a surety company.
The surety provides a guarantee to the obligee that the principal will fulfill their obligations. A principal’s obligations could mean complying with State laws and regulations pertaining to a specific business license, or meeting the terms of a construction contract.
Because of this guarantee, many surety bonds require good financial strength and credit of the principal. Our experienced team will help to facilitate the relationship between you and the surety company.