Commercial bonds are designed to make sure your business runs smoothly. Whether you have concerns of theft or work not being completed properly, a bond can help ensure you are paid when promised services are not delivered or when an employee decides to take from the company. Dean & Draper can assist you with all bonding needs, from the smallest commercial bonds to multi-million-dollar commercial and contract bonds.
Types of Bond Insurance:
Surety Bond Insurance
Surety bonds are contracts between two parties in which one party is legally obligated to perform the agreed-upon duties in the contract. If the duties are not carried out, the other party will receive payment for coverage of financial losses. Surety bonds include several types of bond categorized as court judicial, public official, license and permit, and other miscellaneous bonds that include guarantees of financial performance.
Contract Bond Insurance
Contract bonds guarantee the performance of obligations described in a written agreement between two parties. The most common types include bid, performance, and payment bonds. Contract bonds are often designed to spell out the specifications of a construction project contract.
Fidelity Bond Insurance
Fidelity bonds cover losses arising from employee dishonesty and essentially guarantee that an employee will not steal from your company. Losses can include money, property, and other securities.
Contact Us for Commercial Bonding Services
To speak to a Dean & Draper Insurance Agency representative about commercial bond insurance options and costs for your Texas company or wherever you are in the United States, please call 1 (888) 266-0444 or (713) 527-0444, or simply fill out and submit the form below.