Call Us
Home > Commercial Insurance > Surety Bonds

Surety Bonds

Surety BondsThere are two main categories of bond types: contract bonds and commercial bonds. Contract bonds guarantee a specific contract. Examples include performance, bid, supply, maintenance and subdivision bonds. Commercial bonds guarantee per the terms of the bond form. Examples include license & permit, union bonds, etc.

get a quote




Suretyship bonds originated hundreds of years ago as a mechanism through which trade over long distance could be encouraged. They are frequently used in the construction industry: in order to obtain a contract to build the project, the general contractor (and often the sub-contractors as well) must provide the owner a bond for its performance of the terms of the contract. Conversely, owners and contractors may also provide payment bonds to ensure that subcontractors and suppliers are paid for work done. Under the Miller Act, payment and performance bonds are required for general contractors on all U.S. federal government construction projects where the contract price exceeds $100,000.00.

Surety bonds are also used in other situations, for example, to secure the proper performance of fiduciary duties by persons in positions of private or public trust.

A key term in nearly every surety bond is the penal sum. This is a specified amount of money which is the maximum amount that the surety will be required to pay in the event of the principal's default. This allows the surety to assess the risk involved in giving the bond; the premium charged is determined accordingly.

If the principal defaults and the surety turns out to be insolvent, the purpose of the bond is rendered nugatory. Thus, the surety on a bond is usually an insurance company whose solvency is verified by private audit, governmental regulation, or both.

The principal will pay a premium (usually annually) in exchange for the bonding company's financial strength to extend surety credit. In the event of a claim, the surety will investigate it. If it turns out to be a valid claim, the surety will pay it and then turn to the principal for reimbursement of the amount paid on the claim and any legal fees incurred.

A bail bond is a type of surety bond used to secure the release from custody of a person charged with a criminal offense. Under such a contract, the principal is the accused, the obligee is the government, and the surety is the bail bondsman.

If you are looking for a bond that means that you are required to have one, make sure you give us precise definition of the bond and we get it for you. Any kind you need.

get a quote

GET MULTIPLE QUOTES
or call us 800.448.9243
 

Get Your News Widget
California Insurance
Resource Center:
We insure in the following
California cities:

  • - Vernon
  • - Wheatland
  • - Amador
  • - Avalon
  • - Sand City
  • - Monte Sereno
  • - Angels Camp
  • - San Joaquin Trinidad
  • - Tehama
  • - Point Arena
  • - Bishop
  • - Mt. Shasta
  • - Brisbane
  • - Yountville
  • - Fort Jones
  • - Etna
  • - Bautista
  • - Gustine
  • - Solvang
  • - Biggs
  • - Colfax
  • - Needles
  • - Colusa
  • - Dunsmuir
  • - Rolling Hills
  • - Hidden Hills
  • - Gridley
  • - Holtville
  • - Hughson
  • - Belvedere
  • - Portola
  • - St. Helena
  • - Ross
  • - Westmorland
  • - Big Bear Lake
  • - La Habra Heights
  • - Villa Park
  • - Loomis
  • - Sutter Creek Alturas
  • - Weed
  • - Nevada City
  • - Guadalupe
  • - Rio Dell
  • - Willows
  • - Orland
  • - Farmersville Industry
  • - Isleton
  • - Carmel-by-the-Sea
  • - Loyalton
  • - Jackson
  • - Portola Valley
  • - Bradbury
  • - Dorris
  • - Buellton
  • - Tulelake
  • - Del Mar
  • - Sonora
  • - Fowler
  • - Indian Wells
  • - Williams
  • - Plymouth
  • - Maricopa Woodside
  • - Blue Lake
  • - Ferndale
  • - Irwindale
  • - Dos Palos
  • - Montague
  • - Colma
  • - Willits
  • - Lakeport
  • - Del Rey Oaks
  • - Calistoga
  • - San Juan
  • - Firebaugh Placerville
  • - Live Oak
  • - Exeter
  • - Rio Vista
  • - Anderson
  • - Escalon
  • - Morro Bay
  • - Winters Canyon Lake Huron Signal Hill
  • - Corning
  • - Hillsborough
  • - Fort Bragg
  • - Clayton
  • - Woodlake
  • - Lindsay
  • - Atherton
  • - Piedmont
  • - Cotati
  • - Sierra Madre
  • - Yreka
  • - Kingsburg
  • - Fairfax
  • - Fortuna
  • - Kerman
  • - Sausalito
  • - Calimesa
  • - King City
  • - Ione
  • - California City
  • - Mammoth Lakes
  • - Scotts Valley
  • - Healdsburg
  • - Crescent City
  • - Calipatria
  • - Sebastopol
  • - Tehachapi
  • - Los Alamitos
  • - Waterford
  • - Larkspur
  • - Ojai
  • - McFarland
  • - Rolling Hills Estates
  • - Livingston
  • - Grand Terrace
  • - Cloverdale
  • - Emeryville
  • - San Anselmo
  • - Gonzales
  • - Lathrop
  • - Los Altos Hills
  • - Half Moon Bay
  • - Pismo Beach
  • - Parlier
  • - Mendota
  • - Marysville
  • - Tiburon
  • - Auburn
  • - Westlake Village
  • - Grass Valley
  • - Taft
  • - Ripon
  • - Newman
  • - Grover Beach
  • - Orange Cove
  • - Greenfield
  • - Corte Madera
  • - Oroville
  • - Imperial
  • - Solana Beach
  • - Sonoma
  • - Commerce
  • - Capitola
  • - San Marino
  • - Shasta Lake
  • - Malibu
  • - Red Bluff
  • - La Canada Flintridge
  • - Mill Valley
  • - Blythe
  • - Clearlake
  • - Sanger
  • - Shafter
  • - Selma
  • - Palos Verdes Estates
  • - South El Monte
  • - American Canyon
  • - Port Hueneme
  • - Carpinteria
  • - Lemoore
  • - Arvin
  • - Corcoran
  • - Fillmore
  • - Reedley
  • - Pacific Grove
  • - Duarte
  • - Truckee,Galt
  • - Hawaiian Gardens
  • - Calabasas
  • - Ukiah
  • - Agoura Hills
  • - Chowchilla
  • - Hercules
  • - La Palma
  • - Adelanto
  • - Patterson
  • - Barstow
  • - Avenal
  • - El Cerrito
  • - Rancho Mirage
  • - Wasco
  • - Moraga
  • - Brawley
  • - Arroyo Grande
  • - South Lake Tahoe
  • - Albany
  • - Lafayette
  • - El Segundo
  • - San Fernando
  • - Coalinga
  • - Laguna Beach Dixon
  • - Seal Beach
  • - Arcata
  • - Belmont
  • - Artesia
  • - Windsor
  • - Oakdale
  • - Lemon Grove
  • - Orinda
  • - South Pasadena Santa Fe Springs
  • - Cudahy
  • - Susanville
  • - Eureka
  • - Beaumont
  • - Ridgecrest
  • - Dinuba
  • - Atwater
  • - Desert Hot Springs
  • - Norco
  • - Pinole
  • - Paradise
  • - Hermosa Beach
  • - Coronado
  • - Yucca Valley
  • - Soledad
  • - Riverbank
  • - Benicia
  • - Millbrae
  • - Lincoln
  • - Lomita
  • - Twentynine Palms
  • - Loma Linda
  • - Atascadero
  • - Suisun City
  • - Hollister
  • - Imperial Beach
  • - West Hollywood
  • - Banning
  • - Lake Elsinore
  • - Paso Robles Campbell
  • - Los Altos
  • - Stanton
  • - Marina
  • - Ceres
  • - San Carlos
  • - Bell
  • - San Jacinto
  • - Pacifica
  • - Burlingame
  • - Monrovia
  • - Los Gatos
  • - Brea
  • - Santa Paula
  • - Dublin
  • - Maywood
  • - West Sacramento
  • - Foster City
  • - Culver City
  • - Monterey
  • - Brentwood
  • - Coachella
  • - El Centro
  • - Saratoga
  • - San Bruno
  • - Menlo Park
  • - Lompoc
  • - San Pablo
  • - San Gabriel
  • - Walnut
  • - Rohnert Park
  • - East Palo Alto
  • - Danville Los Banos
  • - La Puente
  • - Lawndale
  • - Rancho Palos Verdes
  • - La Verne
  • - Newark
  • - Pleasant Hill
  • - Porterville Laguna Hills
  • - Perris
  • - Oakley
  • - San Luis Obispo
  • - Seaside
  • - Delano
  • - Montclair
  • - Palm Springs
  • - Temple City
  • - Laguna Woods
  • - Moorpark
  • - Bell Gardens
  • - Beverly Hills
  • - Goleta
  • - San Juan Capistrano
  • - Gilroy
  • - La Quinta
  • - Hanford
  • - Calexico
  • - Azusa
  • - Morgan Hill
  • - Cypress
  • - Claremont
  • - Palm Desert Dana Point
  • - Yucaipa
  • - Manhattan Beach
  • - Tulare
  • - Martinez
  • - Covina
  • - San Dimas
  • - Watsonville
  • - Placentia
  • - Rancho Santa Margarita
  • - La Mirada
  • - Milpitas
  • - Rocklin
  • - San Clemente
  • - Novato
  • - Yorba Linda Cathedral City
  • - Montebello
  • - Poway
  • - Indio
  • - Madera
  • - Laguna Niguel
  • - Highland
  • - Hemet
  • - San Ramon
  • - Walnut Creek
  • - Colton
  • - Turlock
  • - Glendora
  • - Pico Rivera
  • - Woodland
  • - Redondo Beach Cupertino
  • - Pleasanton
  • - Santee
  • - Folsom
  • - Cerritos
  • - Redlands
  • - La Mesa
  • - Union City
  • - Arcadia
  • - Tustin Santa Cruz
  • - Rancho Cordova
  • - Petaluma
  • - Mountain View
  • - Rosemead
  • - San Marcos
  • - San Rafael
  • - Lynwood Fountain Valley
  • - Chico
  • - Paramount
  • - Merced
  • - Yuba City
  • - Upland
  • - Diamond Bar
  • - Alameda
  • - Gardena
  • - Chino
  • - Palo Alto
  • - Hesperia
  • - South San Francisco
  • - Napa
  • - La Habra
  • - Redwood City
  • - Manteca
  • - Bellflower
  • - Lodi
  • - Chino Hills
  • - Pittsburg
  • - Lake Forest
  • - Camarillo
  • - Tracy
  • - Encinitas
  • - Livermore Aliso Viejo
  • - Buena Park
  • - National City
  • - Baldwin Park
  • - Apple Valley
  • - San Leandro
  • - Davis
  • - Newport Beach Monterey Park
  • - Lakewood
  • - Huntington Park
  • - Murrieta
  • - Clovis
  • - Elk Grove
  • - Victorville
  • - Thousand Oaks Whittier
  • - Lancaster
  • - Redding
  • - Sunnyvale
  • - Hawthorne
  • - Fullerton
  • - Santa Maria
  • - Palmdale
  • - Alhambra
  • - Citrus Heights
  • - Temecula
  • - Orange
  • - Santa Monica
  • - Escondido
  • - Westminster
  • - Corona
  • - Vista
  • - Hayward
  • - Santa Barbara
  • - Pasadena
  • - San Mateo
  • - Torrance
  • - Carlsbad
  • - Santa Rosa
  • - Vacaville
  • - Salinas
  • - El Cajon
  • - Fontana
  • - Carson
  • - Pomona
  • - Compton
  • - Rancho Cucamonga Mission Viejo
  • - Moreno Valley
  • - Rialto
  • - Santa Clarita
  • - Antioch
  • - Ontario
  • - South Gate
  • - Garden Grove Roseville
  • - Oceanside
  • - Richmond
  • - Irvine
  • - Berkeley
  • - Oxnard
  • - Fairfield
  • - San Bernardino
  • - Daly City
  • - Huntington Beach
  • - Ventura
  • - Glendale
  • - Burbank
  • - Modesto
  • - Visalia
  • - Fremont
  • - Santa Clara
  • - Chula Vista Norwalk
  • - Stockton
  • - West Covina
  • - Riverside
  • - Costa Mesa
  • - Bakersfield
  • - Downey
  • - Anaheim
  • - Inglewood
  • - Santa Ana
  • - Vallejo
  • - Oakland
  • - Simi Valley
  • - Sacramento
  • - Concord
  • - Fresno
  • - El Monte
  • - Long Beach San Francisco
  • - San Jose
  • - San Diego
  • - Los Angeles
Get liability insurance
quotes for:

  • - Accountants and Accounting Firms
  • - Apartment Building Owner
  • - Appliance Stores
  • - Architects & Engineers
  • - Assisted Living Facilities
  • - Attorneys, Lawyers, and Law Firms
  • - Audiologists
  • - Auto Repair Shops / Automotive Services
  • - Bakeries and Bakery Shops
  • - Bar / Tavern / Nightclub
  • - Beauty Salon
  • - Bed and Breakfast Inns
  • - Bicycle Shops and Bike Stores
  • - Body Repair Shops
  • - Bookstores
  • - Building Supplies Stores and Home Centers
  • - Car Dealership
  • - Car Wash and Auto Detailing
  • - Card and Gift Shops and Stores
  • - Carpet and Floor Covering Stores
  • - Casinos
  • - Chiropractors
  • - Clothing Stores
  • - Coffee Shops and Coffeehouses
  • - College Stores and Bookstores
  • - Colleges, Universities, and Professional Schools
  • - Concerts & Festival
  • - Consultants
  • - Contractors and Subcontractors
  • - Convenience Stores
  • - Cosmetics, Beauty Supplies, and Perfume Stores
  • - Country Clubs
  • - Day Care, Nursery & School
  • - Dentists and Dental Practices
  • - Distributors and Wholesalers
  • - Dry Cleaners
  • - Events, Seminars and conferences
  • - Florists and Flower Shops
  • - Furniture Stores
  • - Gas Stations and Truck Stops
  • - Glass Stores and Shops
  • - Golf Courses and Driving Ranges
  • - Graphic Design and Computer Design
  • - Grocery Stores and Supermarkets
  • - Hair Salons, Beauty Salons, and Barber Shops
  • - Hardware Stores
  • - Health Clubs and Fitness Centers
  • - Health Food, Vitamin, and Supplement Stores
  • - Hobby, Arts, and Crafts Stores
  • - Home Furnishings Stores
  • - Hotels and Motels
  • - Household Appliance Stores
  • - Information Technology and IT
  • - Janitorial & Building Maintenance
  • - Jewelry Stores and Jewelers
  • - Lawyers and Law firms
  • - Lawn and Garden Supplies Stores
  • - Manufacturers
  • - Marketing Companies
  • - Movie Theaters and Cinemas
  • - Movie, DVD, and Video Rental Stores
  • - Museum Shops and Stores
  • - Museums
  • - Music and Record Stores
  • - Oil Change and Fast Lube Services
  • - Online Businesses
  • - Optometrists
  • - Painters
  • - Paint and Wallpaper Stores
  • - Pet Shops and Stores
  • - Photography / Videography
  • - Physical Therapists
  • - Physicians, and Medical Practices
  • - Plastics Manufaturers
  • - Plumbers
  • - Podiatrists
  • - Real Estate Brokers and Professional
  • - Restaurants, Sandwich Shops, and Cafes
  • - Retail Stores
  • - Shoe Stores and Shops / Footwear Retailers
  • - Ski and Snowboard Shops and Stores
  • - Ski Resorts and Areas
  • - Small businesses
  • - Software Development
  • - Spa Resorts and Day Spas
  • - Sporting Goods Stores
  • - Tanning Salons
  • - Tattoo & Body Piercing
  • - Taxis and Transportation
  • - Technology
  • - Tutoring
  • - Veterinary & Animal Services
  • - Website Development
  • - Website Design and Development
  • - Wineries
  • - Zoos, Aquariums, and Botanical Gardens
Explore and Connect
with ABS:

About Us

Our Partners

Blog

Facebook

Twitter

YouTube

2007-2010 ABS Insurance & Financial Services Inc.
Independent Insurance Agency, 94089, USA
Founded in 1991
Lac. #:0833821
Home | Privacy Policy | Contact US

Valid XHTML 1.0 Transitional Valid CSS!