Bonds
Surety Bonds, Performance Bonds, Court Bonds, Payment Bonds, License Bonds
Fast quotes and niche bond access.
Precision Bonding Solutions for Modern Legal and Security Risks.
Access comprehensive surety markets designed to help you meet statutory requirements and secure contracts.
A bond is not an insurance policy. An insurance policy assumes that there will be a loss, so the premium for an insurance policy is calculated to cover losses that may occur. A bond, on the other hand, is an extension of credit, with the assumption that there will be no loss. The bond premium paid to the surety covers only the underwriting expenses of the surety company. When losses occur, they have a significant impact on the surety company’s financial results.
A surety company may request collateral to reduce the risk when issuing a bond. Collateral is sometimes required for high risk principals or unusual obligations. There are many forms in which collateral may be provided, including cashier’s checks, certificates of deposit, or irrevocable letters of credit. After all obligations of a bond have been met, and the obligee releases the surety company from their obligation under the bond, collateral is then returned to the principal.
Understanding Bonds
A surety bond is a three-party written agreement that guarantees the fulfillment of a legal obligation. In a bond, one party (the surety) obligates itself to a second party (the obligee or owner) to answer for the default of a third party (the principal). There are two categories of surety bonds:
Commercial Surety Bonds
Commercial Surety Bonds guarantee performance by the principal of the obligation or undertaking described in the bond.
Contract Surety Bonds
Contract Surety Bonds provide financial security and construction assurance on building and construction projects by assuring the project owner (obligee) that the contractor (principal) will perform the work and pay certain subcontractors, laborers and material suppliers.
Advanced Protection for Modern Security Integrators
We specialize in bonds designed for:
- Bid Bonds
- Court Bonds
- Contract Bonds
- Federal (non-contract) Bonds
- Judicial and Probate Bonds
- License & Permit Bonds
- Miscellaneous Bonds
- Payments Bonds
- Performance Bonds
- Private Investigator Bonds
- Process Server Bonds
- Public Official Bonds
- Subdivision Bonds
The AMIS Bond Program manager, Karen Metcalf, is an experienced broker who has been in the insurance business for more than 30 years. Karen is committed to providing the best service when it comes to writing your bonds. She has a wealth of talent and products that are hard to match in the industry. Give Karen an opportunity to assist you with your next bond!