Bonds

surety bonds

Bonds

Rodgers Insurance offers a variety of surety bonds for your business. In general a surety bond is a promise to pay one party a certain amount if a second party fails to meet an obligation, such as the terms of a contract.

Contract Bonds : Contract bonds are used to guarantee that a contractor will follow the specifications of a construction contract. A contract surety bond assures a project owner that a contractor will perform the work and will pay subcontractors, laborers and suppliers. The contract bonding process requires a careful assessment of the contractor’s business and financial statements.

 

Commercial Bonds : Commercial surety bonds are required by Maryland law, and guarantee some aspect of the principal’s occupation, For instance, auto dealer bonds help to assure the general public, and customers, that the dealer will comply with the law.

Court Bonds : Court bonds, also known as judicial bonds or court surety bonds, may be required in court proceedings to ensure protection from a possible loss. Court bonds protect you and your business during court proceedings.

Fidelity Bonds : Fidelity bonds protect you from employee theft. While you may feel you can trust your employees and your assets are secure, employee theft does occur. You should consider a fidelity bond if one or more of your employees is entrusted with to handle cash, checks, or other valuable assets.

Each surety bond category has specific bonds for specific situations. Contact the surety bond experts at Rodgers Insurance today at 410-282-1379 to discuss your business needs.