Bonds

What is Surety Bonding?

• Appeal Bonds - Guarantee of payment of the original judgment of a court. When a judgment is appealed, a bond is usually required to guarantee that if the appeal is unsuccessful, funds would be available to pay the original judgment as well as costs of the appeal. This serves to discourage an individual from appealing merely to stall for time or for frivolous reasons. Get Appeal Bond >>
• Conservator Bonds - A bond used for a person, official, or institution designated to take over and protect the interest of an incompetent or minor. Get Conservator Bond >>
• Court Bonds - Judicial and probate bonds, also referred to as fiduciary bonds, secure the performance on fiduciaries' duties and compliance with court order, e.g. administrators, executors, guardians, trustees of a will, liquidators, receivers, and masters. Judicial proceedings court bonds include injunction, appeal, indemnity to sheriff, mechanic's lien, attachment, replevin, and admiralty. Get Court Bond >>
• Employee Dishonesty & Janitorial Services Bonds Get Employee Dishonesty & Janitorial Services Bond >>
• Fidelity Bonds - Bonds designed to protect against dishonesty. Generally, the bond protects against the dishonesty of employees. These bonds cover losses arising from employee dishonesty and indemnify the principal for losses caused by the dishonest actions of its employees. Get Fidelity Bond >>
• License & Permit Bonds - License and Permit Bonds are required to obtain a license or permit in many cities, counties, states or other political subdivisions. They may be required for a number of reasons, including the payment of certain taxes and fees or providing consumer protection as a condition to granting licenses related to selling things such as motor vehicles or contracting services. Get License & Permit Bond >>
• Lost Instrument Bonds - Indemnification bond under which a stock certificate holder who loses the original certificate will be issued a duplicate. The indemnity bond guarantees that if the original stock certificate is recovered, the holder will send it to the surety company. Get Lost Instrument Bond >>
• Public Official Bonds - Type of Surety Bond that guarantees the performance of public officials. Public officials are responsible for a broad range of property including fees that they collect, money that they handle, and bank accounts that they oversee. They may also be held responsible for misdeeds that result in a loss of public funds by those they supervise. Get Public Official Bond>>
• Bid Bonds - Bonds which provide financial assurance that the bid has been submitted in good faith, and that a contractor will enter into a contract at the amount bid and post the appropriate performance bonds. These bonds are used by owners to pre-qualify contractors submitting proposals on contracts. Get Bid Bond >>
• Performance Bond  - Performance Bonds cover performance of the terms of a contract. These bonds frequently incorporate payment bond (labor and materials) and maintenance bond liability. This protects the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions. Get Performance Bond>>
• ERISA Bond - The Employee Retirement Income Security Act created in 1974 created a requirement for a bond to be posted, in the amount of ten percent of the funds, on the fiduciary of pension funds and profit-sharing plans. Get ERISA Bond>>
• Notary Bond - Bonds that are required by statutes to protect against losses resulting from the improper actions of notaries. Please Call Paragon for Notary Bonds

Jaimee Finch

>This glossary attempts to illustrate common usage of surety industry terms. These brief descriptions do not attempt legal interpretations. Consult an insurance dictionary or an industry professional for more complete information.<