A commercial bond can be required by commercial business entities such as non-profit groups, distributors, suppliers, etc. Legal regulations for Federal, state, and municipalities can require various commercial bond obligations. These may guarantee compliance on the part of individuals to follow certain rules or legal requirements.
Types of Commercial Bonds:
- License and Permit Bonds - state or local laws require license and permit bonds be issued to operate certain types of businesses such as streets, sidewalks, gutters, and drainage systems.
- Public Official Bonds - these guarantee the performance of duty of a public official such as sheriffs, judges, and clerks.
- Court Bonds – these bonds include 4.11, Appeal, Release of Lien and Probate bonds. These bonds may be required by courts to assure a party is compliant with a court order, administers an estate of deceased person, acts as guardian for disabled person, etc.
- Miscellaneous Bonds - these do not fall in any of the categories. These bonds can be more hazardous obligations and require extensive underwriting.
Regardless of your bonding needs, we are here to assist you. Call our bond department at 502-657-2314.