Title: Bonds
Author: Kevin
Published: February 15, 2016
Last modified: November 27, 2018

---

#  Bonds

## What exactly is a bond?

A bond in layman’s terms is a way to **secure a debt**.

It is a way of _you_ the consumer, being able to put up a little cost up front that
says “I am letting you borrow this money so as to your agreement to pay the face
value of said bond if ever needed”. In the real world, bonds can be issued by a 
government, municipality, corporation, federal agency and other entities.

In the _insurance_ world a lot of times you will see bonds requested in the following
ways:

## Surety Bond

A surety bond is a contract between three parties. The person who is the recipient
of an obligation, the primary party who will perform the contractual obligation,
and the person who assures the obligation will be done.

## Lost title Bond

These bonds are a type of surety bond. They provide a proof and guarantee of ownership
to the Department of Motor Vehicles. When no other form of documentation is available
a Lost Title Bond shows the DMV that you are the “owner” of said vehicle.

## Contract Surety Bond

Contractor bonds are one of the most “popular” bonds you will see asked for in the
insurance space. Contract bonds are used in the construction industry by general
contractors. They are a guarantee to a project’s owner that the general contractor
will adhere to the contract put in place.

## License and Permit Bonds

These types of bonds function as a guarantee to a government entity that a company
will comply with a statute, state law, ordinance, etc.

Some examples are but not limited to:

 * Contractors License Bonds
 * Tax Bond
 * Environmental Bonds
 * Broker’s Bonds
 * Motor Vehicle Dealer Bonds
 * ERISA Bonds

Our job as an independent insurance provider is to help you navigate a cumbersome
system in finding the best fit for your bond requirements. We can help you find 
your bond needs, provide you with your bond, and help you get it to the party requesting.

Call our office today or complete the form below to get started!

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