Would you visit a dentist to treat a broken arm? How about a mechanic to do your taxes? We know that people have more common sense than that, but someone seeking a commercial surety may not know that they will be better off with a specialist as well. A St. Louis insurer – like The Daniel and Henry Company – with the experience in commercial surety bonds is the right choice when your business is in need of a surety.
More like banking than insurance, surety bonds are three-party agreements. The surety will provide a guarantee to your company that the insurer will perform the specific obligation – like finish financing a construction project that goes bad. The underwriting and the amount of the surety bond is based on the financial strength of the principal.
Commercial bonds are usually required by a city, county or state to obtain a license or permit to do business. The bond guarantees that the licensee will adhere to specific laws, ordinances or statutes. There are specific types of commercial sureties that range from License and Permit to Public Official to Fiduciary to Court and finally, Miscellaneous.
At The Daniel and Henry Company, we have a dedicated professional staff with the experience to find the right solution for your bonding needs. Do you have unanswered questions about how to obtain a commercial surety bond? Contact our experts today to find out more.Share