Required by the State for project-based work, including Bid or Proposal Bonds, Construction Bonds, Performance Bonds, and Supply Bonds.
Treasurers, notaries, court clerks, judges, and other public officials may be required to obtain a bond to guarantee dutiful performance.
These bonds fall outside of the above categories and include Lease Bonds, Utility Bonds, Lost Securities Bonds, and Self-Insurers.
Some agencies of the Federal Government accept or require surety bonds in a variety of circumstances, including Immigration Bonds, Customs Bonds, and Alcoholic Beverage Bonds.
Some businesses are required by law to purchase a surety bond before being able to operate, including health spas, liquor distributors, motor vehicle dealers, and tax professionals.
To protect workers on the job, this type of bond ensures that employers will faithfully pay any worker’s compensation benefits owed to the employee.