Georgia Surety Bonds
You know you can get the job done, but in a variety of situations a Georgia surety bond is required or suggested to guarantee it. Georgia fidelity and surety bonds are agreements between one party, ‘the surety’, to answer to a third person, ‘the obligee’, for debt or default of another party, referred to as the ‘principal.’
In other words, the surety, who is usually an insurance company, guarantees a certain type of conduct on behalf of the principal, and if that conduct is not completed or fails, then the surety or insurance company is responsible to make payment to the obligee.
Fidelity bonds protect the obligee against dishonesty on the part of his or her employees and are referred to as “Employee Dishonest Insurance.”
For companies in Georgia, surety bonds “guarantee” the performance of the person being bonded and that person’s ability and financial capacity to complete the obligations stated within the contract. Georgia surety bond types include:
- Contract Bonds
- Court Bonds
- License and Permit Bonds
- Public Official Bonds
- Miscellaneous Bonds
- Payment & Performance Bonds
For more information on Georgia surety bonds and how they can work for your business, Contact Us.