According to the Small Business Administration definition: Surety bonds ensure contract completion in the event of contractor default. A project owner (called an obligee) seeks a contractor (called a principal) to fulfill a contract. The contractor obtains a surety bond from a surety company. If the contractor defaults, the surety company is obligated to find another contractor to complete the contract or compensate the project owner for the financial loss incurred.
At Insource Insurance Group we have contracts with many of the top bonding companies in the country. From Operator P-5 Bonds, to ERISA Bonds, to Performance Bonds and everything in between we will help guide you through the application process, quickly quote and bind the most the competitive quote options, and review your bonding needs on annual basis upon renewal. Our bonding department is dedicated to providing each of our clients the best possible service and pricing.