When a business is marketed as “bonded,” this often means that it has purchased a type of surety bonding. Many occupations require a license, and a surety bond may be required to guarantee that the bonded business obtains the license, and then follows its rules. Should the business break these rules, a claim could be filed on the bond. In other words, surety bonds create a potential liability for your company, but are required of you by a third party (typically the government) to do business. There are thousands of surety bond requirements throughout the United States.
The Helwig Agency can help you with a variety of bonds, including Court Order Bonds, Administrator’s Bond, Estate, Public Official Bond, and more. In addition, we offer Contractor’s Bonds, such as Performance Bonds and Road Bonds. Another type of bonding is “fidelity bonding.” It provides insurance for your company against employee dishonesty and theft. Bonding can be a complex issue with many factors to consider; we’ll help guide you through the process.