Surety Bonds (Construction, Commercial & Judicial)
A surety bond is a legal & financial instrument that ensures that one party will perform a specific action and if they party fails to do so a third party shall be responsible for performance of the action. Financial penalties are imposed if the bonded party fails to perform. Types of bond include but are not limited to: bid bonds, performance bond, completion bond, payment bond, bail bond, and others. A surety bond is not a financial investment bond.