Bonds are very interesting and unique contracts that have played a key role in the world’s economy for the last few hundred years. From surety shipping bonds that encouraged world trade in the 1700’s, to performance bonds that enable today’s high tech construction companies to engage in private, state and government contracts, bonds continue to provide security to individuals, corporations, and governments involved in business transactions.

There is a wide variety of bonds, all catering to the specific protection needed and/or required by the parties involved. Two common types of bonds are commercial bonds and contract bonds. Commercial bonds place a guarantee according to a specific bond form. Many contractors are required to carry a license and permit bond while working in a certain municipality. License and permit bonds are an example of a bond that places a guarantee per the terms of the specific bond form. Contract bonds differ from commercial bonds in that a specific contract is guaranteed, not the terms of a bond form. Examples of contract bonds include bid bonds, performance bonds, and subdivision bonds.

Suburban General Insurance Agency has long lasting relationships with many of the nations top bond providers including, but not limited to:

• The Travelers
• The Hartford
• Western Surety
• CNA
• First Indemnity of America
• AIG

Because of the individual attention required with each bond, we ask that you call the office to discuss your specific bond needs. In most situations, a bond can be quoted and executed within 48 hours.