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FIDELITY AND SURETY BONDS THAT PROTECT AND PRESERVE YOUR BUSINESS AND YOUR REPUTATION
Bonds offer another way to safeguard your business. TriSure offers a full array of bond products; any and all may be packaged with our other Business Insurance policies.
Through an in-depth consultation, a TriSure professional will learn about your business and make recommendations for a comprehensive, customized insurance package. We look forward to partnering with you today and down the road as your business grows and changes.
Protect your business from theft. A fidelity bond protects employers against financial loss due to the dishonesty of an employee (such as employee theft).
An extra assurance of security. A surety bond is one in which a surety assumes responsibility for another’s contractual obligation in the event of default.
A bond that guarantees the faithful performance and fidelity of an executor or administrator of a will, trust or estate.
In short, the guaranteed payment of a court judgment. An appeal bond is usually required in order to cover the costs of an appeal to a higher court, and sometimes interest, if the appeal fails or is denied.
Attachment bonds are those required by the court to protect against financial loss caused by court decisions. Two types include:
- A bond given by a plaintiff seeking to attach the defendant’s
property (put the defendant's property in the custody of the court). Should
the plaintiff lose the suit, the bond ensures the defendant will
receive payment due to damages suffered because of the attachment.
- A bond given by a defendant to have an attachment released. This bond ensures payment of a judgment awarded to the plaintiff
Designed to provide protection to bankruptcy action beneficiaries, bankruptcy bonds ensure that the bonded trustees appointed in a bankruptcy proceeding will perform their duties and handle affairs according to the rulings of the court.
Bid and Performance
Both bonds are types of surety bonds.
- A bid bond is usually required of contractors bidding on
construction work to ensure that the successful bidder will both
accept the job and provide a performance bond.
- A performance bond protects against unmet contractual obligations. For example, it ensures a property owner (such as a municipality) the completion of a construction contract, or in the event that the contractor fails to complete the project, payment of damages.
Claim and Delivery
A legal action to recover personal property which is in the unlawful possession of another party.
Issued specifically to financial institutions, these bonds insure against losses on everything from employee dishonesty to counterfeit currency. Municipalities, states and the federal government require financial Institution Surety Bonds.
Appointed by the court, a guardian administers to the personal affairs or property of an individual who is incapable of carrying out those duties.
Injunction bonds require a plaintiff to cover costs and damages of a party determined to be wrongfully accused.
A maintenance bond is a guarantee against loss due to defective workmanship or materials used in the construction or supply contract.
Miscellaneous Bonds cover performance of contracts and agreements with private parties and government agencies with respect to lost securities, utility deposits and wages and welfare.
Should a contractor breaches a construction contract, a payment bond covers payments to suppliers.
Release of Lien
Releases a mechanic’s lien against a project property. Release of liens bonds are used by those supplying labor, material or professional services on a project.
A bond that guarantees faithful performance of a contract for furnishing supplies or materials.
A trustee is a person or entity named to manage a business' assets and work with the business creditors.