SURETY
Your clients’ trust
is well-placed.
A surety bond is a financial guarantee that work will be performed in compliance with laws, regulations and the requirements outlined in a contract. It’s not insurance, but it provides protection and peace of mind.
If the Principal fails to deliver, or otherwise defaults on their contractual and legal obligations, the Surety compensates the Obligee for their losses.
Most importantly, a surety bond lets those you’re working with know their business is in the right hands.
Speaking of being in the right place, the dedicated surety team at Daniel & Henry has longstanding relationships with local, regional and national markets. Let’s find the right solutions for your bonding needs.
the principal
is responsible for performing the work and delivering against the contract.
the SURETY
provides the obligee with a guarantee that the principal will meet its obligations.
the Obligee
pays for, and/or expects to receive, the performed services or output.
SERVICEs & offerings
Credibility is earned, and guaranteed.
Surety bonds are often used in the construction industry due to the inherent risk, and unpredictability, of many projects. State and federal efforts almost always require them. Typical types of contract bonds include:
Bid Bonds
Performance Bonds
Payment Bonds
Completion Bonds
Commercial bonds protect the public from potential fraud, misrepresentation or financial risk via bonds such as:
License and Permit Bonds
Court Bonds
Fiduciary Bonds
Public Official Bonds
Business Service Bonds
Customs Bonds
Utility Bonds
Franchise and Telecommunications Bonds
Bonded, licensed and ready to go.
Aside from contractual guarantees, businesses in some industries are legally required to carry a surety bond in order to secure, or maintain, their license. Even when bonding isn’t a requirement, it increases credibility and client trust, demonstrating your business is financially stable, accountable and committed to professionalism.
Complementary Services
Managing your risk,
from multiple angles.
Surety bonds might be the right strategy to provide peace of mind for you and your clients. See how they fit with additional approaches to protecting your business and your people.
