If you are doing business in Georgia, chances are you will eventually have to get some type of surety bond. From private businesses to federal projects, surety bonds are often required to take on certain projects. In Federal or State projects, the bonds are put into place to protect the State’s and the public’s interests. Continue reading Surety Bonds in Georgia
The Main Differences Between a Surety Bond and an Insurance Plan
by Nielson Hoover Group |People often make the mistake of comparing companies that issue surety bonds with insurance companies. While both entities provide security and financial coverage to individuals/organizations, they differ greatly. Continue reading The Main Differences Between a Surety Bond and an Insurance Plan
What You Need to Know About Surety Bonds in Florida
by Nielson Hoover Group |A surety bond is a promise by the surety company to pay the obligee a pre-decided amount of money if the principal fails to meet a certain obligation. The principal is the person who buys the bond from the surety company and must have a bond to do some type of work with the obligee. Continue reading What You Need to Know About Surety Bonds in Florida
Surety Bonds: How They Work and Why They Are Important
by Nielson Hoover Group |In the construction industry, surety bonds are required. Surety bonds in Florida protect project owners on their investment. Before beginning on a project, project owners will usually require a contractor to secure a surety bond. The surety bond guarantees that the contractor will fulfill their obligations according to their contract, and if not, the project owner will be reimbursed for their losses. Continue reading Surety Bonds: How They Work and Why They Are Important
Different Types of Surety Bonds
by Nielson Hoover Group |The purpose of a surety bond is to provide security to a third party against any losses. These are usually required to ensure that the principal (the person/company/agency buying the bond) does not behave in any unethical manner or not hold up their obligations within a contract. There are many types of surety bonds, but four common types are: Continue reading Different Types of Surety Bonds
