What is a Bond or Financial Guarantee Insurance and Why Would I need it?

Bonds  (known as Financial Guarantee Insurance) are a guarantee of scheduled payments of interest and price on a bond. Many businesses and contractors make sure projects are bonded to assure that their projects get completed.

Let Harrington Insurance Agency Help With All Your Bond Needs

Performance Bonds

Performance Bonds are bonds that guarantee satisfactory completion of a project by a contractor.

Bid Bonds

Bid Bonds are guarantees that once a contractor wins a project bid, they must begin work on that project.

Indemnity Bonds

Indemnity Bonds reimburses the holder of the bond should the issuer of the bond fail to meet deadlines.

Payment Bonds

Payment Bonds are bonds that guarantees payment to sub-contractors and suppliers on the project.

License Bonds

License Bonds are required by the government for businesses in certain industries and guarantees businesses comply to laws.

ERISA Fidelity Bond

The Employee Retirement Income Security Act (ERISA) sets rules and standards of conduct for these plans and those that invest and manage their assets. One of ERISA's requirements is that people who handle plan funds and other property must be covered by a fidelity bond to protect the plan from losses due to fraud or dishonesty.

Contact Harrington Insurance Agency today for your Bond Insurance needs!

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