Commercial Bond Insurance
& Bonding Services
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.
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 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 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.