What is a Surety Bond?
A Surety Bond is a three-party agreement whereby the surety guarantees to the oblige (the project owner) that the principal (the contractor) is capable of performing the contract in accordance with the contract documents. Performance of the contract, which is the subject of the bond, determines the rights and obligations of the surety and the oblige.
Different Types of Texas Surety Bonds Offered by R.D. Kothmann Insurance Agency
Here are the eight different families of surety bonds:
Fidelity bonds also insure businesses for losses due to dishonest acts of employees. In the unfortunate event your employee steps outside your company values, you’ll have the peace of mind that any losses incurred on their behalf are covered by your fidelity bond.
Public Official Bonds
License and Permit Bonds
Contract/Construction Bonds (Bid and Performance Bonds)
R.D. Kothmann Insurance Agency Has Your TX Surety Bond Needs Covered
If you have any questions about surety bonds, don’t hesitate to contact your Texas insurance agency, R.D. Kothmann Insurance Agency. Contact us for a free quote today at 325-446-2320! Or click here to fill out a quote form.
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