What is an Insurance Bond?
Do I Need An Insurance Bond?
What Does An Insurance Bond Cover?
There are a wide variety of different types of insurance bonds. However, the four most commonly-required insurance bonds include:
- Bid Bond: Ensures that the bidder who is awarded the contract will enter into it, as well as furnish the required payment and performance bonds.
- Payment Bond: Ensures that the contractor fulfills all necessary payments to suppliers and subcontractors for work performed under the contract.
- Performance Bond: Ensures that the contractor completes the contract in accordance with all terms and conditions listed in the contract.
- Ancillary Bond: Ensures the fulfillment of non-performance related requirements integral to the contract.
At SunGate Insurance Agency, our goal is to provide you with the insurance bond you need, quickly and easily! Contact us today find the bond that works for you!