Bond Insurance

A surety bond is a promise to pay one company or person a specific amount if another company or person does not meet the contract’s terms. The bond assures the recipient the principal, if the contract isn’t completed.

Most often, bonds are associated with the construction industry and contractor’s license bonds, but they may be necessary in other industries as well. Contractor’s sometimes need to place a license or permit bond to guarantee their work for licensing requirements with municipalities.

As a business owner, you may need a surety bond to guarantee payment for state sales taxes or utility bills in order to keep your business open during tough times.

Attorneys may have clients that are required to post court bonds such as administrators or executors bonds to guarantee their performance while distributing assets in estate situations, providing protection against fraud and embezzlement.

Notary publics are required to post bonds in most states, making this service especially valuable to them.

If you run a business with a variety of bonding requirements or if you are an individual seeking a particular type of bond, Yardley Insurance can help find a surety program appropriate for you. Call us today at (215) 860-8300.