Surety Bonds
What is a surety bond?
Surety bonds are three-party agreements in which the issuer of the bond (the surety) joins with the second party (the principal) in guaranteeing to a third party (the obligee) the fulfillment of an obligation on the part of the principal.
Why do I need a Surety Bond?
The basic goal behind most surety bond requirements is to guarantee industry regulations are met. Mortgage brokers, auto dealers and contractors are a few professions for which surety bonds are necessary as a business license requirement. Failing to purchase and maintain any necessary bonds can result in heavy fines and license revocation.
At La Rosa Insurance Agency Inc., we provide commercial and contract surety bonds. The Commercial surety market includes numerous types of bonds categorized as court judicial, court fiduciary, public official, license and permit, and many miscellaneous bonds that include guarantees of financial performance.
We also write fidelity bonds, which cover losses arising from employee dishonesty and Errors & Omissions liability insurance.
Contract bonds guarantee the performance of obligations covered by a written agreement between two parties. The most common types include bid, performance and payment bonds.
Commercial Bonds offered:
• License & Permit Bonds
• Public Official Bonds up to $3 million
• Notary Public Bonds
• Discharge Mechanic’s Lien Bonds
• Lost Instrument Bonds
• Wage and Welfare Bonds
• Bankruptcy Trustee Bonds
• Federal Bonds (including Medicare Bonds)
- Immigration Consultant Bonds
Fidelity Bonds
We offer competitive products for any small business or organization seeking fidelity coverage.
Fidelity Bonds offered:
• Dishonesty Bonds up to $100,000
• Janitorial Services Bonds up to $100,000
• Blanket and Schedule Bonds
• Pension Trust (ERISA) Bonds
Errors and Omissions Insurance
We offer valuable insurance protection against innocent mistakes made by
notaries and tax preparers.
Errors and Omissions Insurance offered:
• Notary Public Errors & Omissions Insurance
• Tax Preparers’ Error & Omissions Insurance
To apply for a surety bond, please download the form and send it to us by fax or email.
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