A fidelity bond is a type of insurance between two parties: you (theprincipal) and the surety company. The bond provides protection against financial loss caused by a type of activity outlined in the bond. For example, it may protect your business from the costs of employee dishonesty. ...
Colonial Surety Company is a direct writer of ERISA bonds, surety bonds, fidelity bonds, fiduciary bonds, license and permit bonds, and insurance.
Therefore, the surety has no reason to expect losses, and has the right to recover from the principal if the principal fails to fulfill the contract satisfactorily. For this reason, a bonding company will not provide any more coverage than the value of the liquid assets owned by the ...
Surety One specializes in fidelity, financial guarantee, appeal, supersedeas, probate, public official, license, and surety bond services.
These bonds frequently incorporate payment bonds (labor and materials) and maintenance bonds as part of the contract surety bonding package. Bonding protects the project owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions. A payment...
The projects were com- pleted; the administrator accepted 1 Massachusetts Bonding andInsurance Co. v. Smyser-Royer Co., 51 DIST. & Co. REP. 464, 57 YonK LEG. RIc. 185, and 58Yoax LEG. REC. 109 (Pa. 1943 and 1944). 2 Danais v. M. DeMatteo Cost. Co., 102 F. Supp.Howell,...
Bonding an Employee Benefit Plan ERISA Bond- Allows you to have employee benefit plans and protects the participants and beneficiaries from fraud. Surety Bond vs Fidelity Bond: How Are They Different? The main difference between fidelity and surety bonds is that surety bonds are required (usually ...
The bonding process can be stressful. Whether starting a new business or building a mega structure, Jane Bond Surety & Insurance Agency will make bonding our priority. We are here to make the process as simple, quick, and painless as possible!
Surety Bonding 101 A surety bond is similar to an insurance policy, with one important difference. An insurance policy is designed to protect YOU, in the event a loss or accident occurs. Surety bonds, by contrast, are designed to protect someone else that you work with or do business with...
Fidelity and surety bonding is an area of insurance whereby one party is insuring itself against the risk that another party will fail to complete an act or refrain from doing something it promised not to do. Surety bonding refers to bonds that involve three separate parties, while fidelity bon...