Surety & Fidelity Bonds

If you need a Surety Bond as required by contract for a construction project to provide a guarantee to the project owner for faithful performance and completion of the project and guarantee that you will pay your suppliers and subcontractors, please give us a call. Surety Bonds are a very special type of insurance protection that requires financial underwriting and we represent leading sureties in the insurance industry. A Fidelity Bond is a form of insurance protection that covers policyholders for losses they incur as a result of fraudulent acts by specified individuals.

What is a Surety or Fidelity Bond?

A Surety Bond provides a guarantee to the construction project owner that the contractor will faithfully perform and complete the project on time and make certain that all suppliers and subcontractors will be paid, in the event the contractor defaults or is unable to complete the construction project. The surety bond guarantees and obligates the surety to compensate the project owner for the financial loss incurred if the work is not completed or suppliers and subcontractors are not paid.

A Fidelity Bond is a form of insurance protection that covers policyholders for losses they incur as a result of fraudulent acts by specified individuals. It usually protects a business for losses caused by the dishonest acts of its employees.

We are very familiar with these unique 3 party insurance contracts.

Typical Surety & Fidelity Bond Types

Although there are many types of insurance bonds, the most common types of bonds needed by business owners are:

License or Permit Bond - The license bond guarantees that the business will operate in accordance with applicable government rules and regulations. Similarly, a permit bond is required before a government agency will issue a permit to a business.
Bid Bond - Ensures the bidder on a contract will enter into the contract and furnish the required payment and performance bonds if awarded the contract.
Payment Bond - Ensures suppliers and subcontractors are paid for work performed under the contract.
Performance Bond - Ensures the contract will be completed in accordance with the terms and conditions of the contract.
Employee Dishonesty and ERISA Bonds - Protects a business for losses caused by the dishonest acts of its employees or secures an employee benefit plan against losses caused by acts of fraud or dishonesty.

(215) 646-0550
550 Norristown Rd
PO Box 506
Spring House, PA 19477
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