We are United Surety Bonds, and our goal is to help you get the surety bond that you need quickly, with a price that’s right for you.
At United Surety Bonds, your surety bonds needs are handled by a trained team of professionals who specialize in what you’re looking for, ensuring that your needs are met quickly and efficiently from the moment you submit a quote form. We work with A rated insurance companies and pay attention to your every need so your surety bonds can be uniquely crafted to fit the contract you’re taking, without having to give up too much of your own time and money to make it happen.
Surety Bonds We Offer
In our years of service in providing contractors and other business with the bonds they need, United Surety Bonds has managed many different types of surety bonds with a variety of risk sizes and special coverage needs, and we’ve provided bonds to everyone from large businesses to small, even the self-employed. If you need a Licensing or Permit bond, we can definitely help you.
Required by state law, municipal ordinance, or by other regulations, Licensing and Permit Bonds are used to safeguard the public health and welfare and ensure their safety from contractors who may not finish the job. To be licensed, one would need a bond and occasionally some insurance coverage as well.
If you’re interested in Licensing or Permit bonds for your company, United Surety Bonds can ensure you get the bonds within a few hours once you submit the instant quote form, with the bonds sent directly to you for signing once you’re ready.
The only information we need is the name of who requires the bond (be it anything from a Village to a State), the amount of the bond, and details of your company, along with the type of contractor you are. Once we have that, we can go ahead with getting you the bonds you need. Only a few contract types, including State Contractors license and permit bonds, require a credit check or Social Security number.
In the case of governmental contracts, a bid bond will protect the obligee (the contractor), from the principal, ensuring that the obligee is paid the full amount for their work, otherwise the obligee may sue the principal and the surety to enforce the bond. This means that the obligee will get the payment they deserve upon the completion of their work. An amount of ten to twenty percent of the original bid sum may be taken as penalty from the principal, being the difference between the low and second low bid.
To ensure the satisfactory completion of a project by a contractor, a Payment and Performance bond is often required by the owner of a project. Payment and Performance bonds are commonly used in the construction industry, mainly for governmental projects. Payment bonds guarantee that all the subcontractors and suppliers will be paid. Performance bonds guarantee that the bond company will step in and complete the project if the original contractor fails to do so. An example of this would be the insolvency of a contractor.
Another common scenario is that a large contractor may require that their subcontractors provide a Payment and Performance to the Prime contractor. This is done for the same reasons as if the bond was given to the owner, it protects the Prime contractor from any claims from suppliers of subcontractor, along with guarantee that the work will be performed.