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COMMERCIAL SURETY BOND

By: Apply for a surety bond in minutes, Fri Aug 7th, 2009

Everyday we enter into contracts with each other. When we participate in a service of product or do business with each other, we have a contract. Typically, all goes well. However, sometimes, particularly when large sums of money change hands, we want that extra protection, that something in writing that insures our expectations. That something in writing is a surety bond. And, it seems that there is a bond to cover every eventuality in life.

Most of us are familiar with surety bonds that have to do with the construction industry. Completion bonds and payment bonds are pretty common place. With a completion bond, we have an extra edge if a contractor takes our money and never shows up for work again. Did you know; however, that nearly every daily transaction, obligation, or undertaking we encounter can be guaranteed by a Commercial Surety Bond? Sell a motor vehicle, operate a health sp, liquor store, or prepare taxes, you need to be bonded. Become an executor of a will; get bonded. Public officials, notaries, sheriffs, judges, and tax collectors, require bonds to guarantee performance of duty. Have anything to do with Federal monies, you need a bond. Federal government employees who deal with Medicare and Medicaid, customs, immigrants, excise, and alcoholic beverages are bonded. Union officials and others who collect money, even professional fund raisers, should secure a bond.

Surety 1, Surety Solutions Insurance Services, Inc. provides a wealth of information on their website to help us all understand the issues and assist with the process of securing a surety bond. From this site you will learn that commercial surety bonds, not the contractor type, range in cost but are roughly 10% of the collateral. Variances depend on size, type, and duration of the project. But, it may not be this simple, and an experienced, knowledgeable surety bond agent will be able to answer any questions and explain all the particulars with you. Surety 1 has an easy online application process that will take you step by step through the procedure. On this website you will find a complete FAQ section to get you started and a phone number to speak with an agent. You can go to a live online help line or easily leave a written message and expect a quick reply. Surety 1 has been serving businesses, medical and legal professionals, and others since 2003. They are ready to serve you.