Surety Bond

Surety Bond

A surety bond is a promise to be liable for the debt, default, or failure of another. It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee).

At Clover Insurance Service, we’re committed to keeping your business protected — so you can focus on your day-to-day operations. And with the right insurance plan, your business will be covered from top to bottom.

  • Performance & Payment Bond
  • Maintenance(Warranty) Bond
  • License Bond
  • Utility Bond
  • Court Bond
  • Probate Bond
//Surety Bond Type

What are the different types of
Surety Bond?

Performance & Payment (PP Bond)

Performance Bond Provides an owner with a guarantee that, in the event of a contractor’s default, the surety will complete or cause to be completed the contract. Payment Bond Ensures that certain subcontractors and suppliers will be paid for labor and materials incorporated into a construction contract.

Probate Bond

A probate bond is a type of fiduciary bond (also known as an executor's bond) in a probate court estate. It is a Georgia state court bond that is issued on the performance of an executor or administrator of an estate

License and Permit Bond

Required by federal, state, or local governments as a condition for obtaining a license or permit for various occupations and professions. License and permit bonds include auto dealer bonds, mortgage broker bonds, contractor license bonds, and surplus lines broker bonds.

Maintenance Bond (Warranty Bond)

Guarantees the owner that any workmanship and material defects found in the original construction will be repaired during the warranty period.

Utility Bond

A utility bond is as a financial guarantee required by a utility company prior to any services being rendered

Court Bond

A court surety bond ensures you will fulfill your responsibilities as ordered by law, state or federal courts

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