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Bonds

 

Bonds guarantee that a contract or other obligation is met. Bonds involve three parties: surety, principal, and obligee.

The surety is the company which issues the bond. The principal is the bonded person or company that has a contract to fulfill. The obligee is the party on the other side of that contract. If the duties are not carried out, the bond amount will be paid to the obligee.

At Pal & Associates, we’ll help you determine the coverage needed and connect you with the surety company that best fits your needs and budget. Contact us or request quotes to get started now.

Surety Bonds Coverage

Contract Bonds

Ensures the satisfaction of a contracted service. Includes bid, performance, and payment bonds.

Fidelity Bonds

Ensures that a bonded employee will not steal their employer’s money or property.

License / Permit Bonds

Often required by government to ensure adherence to regulations. Includes auto dealers and many other industries.

Public Official Bonds

Ensures a public official faithfully executes their duty, following the laws.

Federal Bonds

Required for some licenses that are administrated by the federal government, like brewers & distillers.

Fiduciary Bonds

Fiduciaries, like executors, guardians, or conservators are often required to be bonded. 

 

Industries Covered

Construction
Hauling
Excavation
Manufacturing
Plumbing
Electrical
And More


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