Surety Bonds
Surety Bonds are underwritten by insurance companies to guarantee the fulfillment of an important obligation. To each bond transaction there are usually three parties – the party receiving the benefit of the bond (Obligee), the party having the obligation to fulfill (Principal), and the surety (Insurance Company).Surety Bond underwriting is different than most insurance coverage because the risk is different.
Surety Bonds are used to address the exposure associated with financial, contractual or professional obligations such as:
- Court Bonds
- Subdivision Completion
- Fuel Tax - License and Permit
- Notary Bonds
- Motor Vehicle Dealer
- Performance and Payment
A large area of practice at Beehive Insurance is working with contractors for placement of Performance and Payment construction bonds. Beehive has been working with the leading surety underwriters in the country forging strong relationships. This is important to know as bid day approaches bonds are needed.
- Court Bonds
- Subdivision Completion
- Fuel Tax - License and Permit
- Notary Bonds
- Motor Vehicle Dealer
- Performance and Payment
A large area of practice at Beehive Insurance is working with contractors for placement of Performance and Payment construction bonds. Beehive has been working with the leading surety underwriters in the country forging strong relationships. This is important to know as bid day approaches bonds are needed.
