Nielson, Hoover & Company, Inc. offers a variety of contract and commercial surety bonds designed to meet your specific needs.
Contract surety bonds guarantee the performance of two parties covered by a written agreement. The most common types include bid, performance and payment bonds.
Commercial surety bonds comprise several types of bonds categorized as court judicial, license and permit, public official, and many miscellaneous bonds that provide guarantees of financial performance.
International surety bonds for domestic and foreign companies including contract, commercial, advanced payment, warranty, and maintenance bonds.
Four Major Types of Contract Surety Bonds to Choose From
Assure that the bid has been submitted in good faith and that the contractor will enter into the contract at the price bid and provide the required performance and payment bonds.
Assure that the contractor will pay specified subcontractors, laborers and material suppliers on the project.
Protect the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions.
A maintenance bond is one which normally guarantees against defective workmanship or materials for a specified period.
Six Commercial Surety Products to Choose From
Federal Non-Contract Bonds
Federal (non-contract) bonds are those required by the federal government, e.g. Medicare and Medicaid providers, customs, immigrants, excise, and alcoholic beverage.
Public Official Bonds
Public official bonds guarantee the performance of duty by a public official, e.g. treasurers, tax collectors, sheriffs, judges, court clerks, and notaries.
Judicial and probate bonds, also referred to as fiduciary bonds, secure the performance on fiduciaries’ duties and compliance with court order, e.g. administrators, executors, guardians, trustees of a will, liquidators, receivers and masters. Judicial court bonds include injunction, appeal, indemnity to sheriff, mechanic’s lien, attachment, replevin, and admiralty.
License & Permit Bonds
License and permit bonds are required by state law or local regulations in order to obtain a license or permit to engage in a particular business, e.g. contractors, motor vehicle dealers, securities dealers Blue Sky bonds, employment agencies, health spas, grain warehouses, liquor, and sales tax.
Miscellaneous bonds – e.g. lost securities, lease, guarantee payment of utility bills, to guarantee employer contributions for Union fringe benefits and workers compensation for self-insurers.
A subdivision bond is one which guarantees to a city, county, or state that the principal will finance and construct certain improvements such as street, sidewalks, curbs, gutters, sewer, and drainage systems.
Companies We Represent
Our strength not only lies in our people, but in the company we keep. And since we represent the leading surety companies nationwide, our strength translates into greater capacity and better terms. It also enables us to adapt quickly to changing markets and deliver surety bond solutions that fit your specific needs.
Our core philosophy revolves around three key words – integrity, dedication and excellence. The reason more companies look up to us is because we continually look after them. We guarantee that no other company, nationwide, will provide you with better service, more negotiating power and better rates.
Nielson, Hoover & Company’s fast and convenient mobile application “#1 Bond Request” is a free app that allows you to quickly and easily submit a bond request from any location no matter how remote. This app was created so you can request a Bid or Performance and Payment Bonds anywhere, anytime.