Securing the Services of Businesses Through Surety Bonds
The foundation for a successful business is built on trust and integrity. Business owners recognize the value these characteristics have when structuring a profitable business plan. A reliable component of this structure for many businesses is surety bonds. At King Risk Partners, we’re experienced in backing local businesses through surety bonds. Whether its commercial bonding or contract bonding, agents are highly accessible and knowledgeable to advise your business through the process.
Owning a business translates to risk exposure. We strive to proactively identify exposures, confirming your company is in compliance with laws, regulations, and contracts. Our current clientele invested in bonds range from public officials to construction contractors. Agents have access to a diverse selection of bonds and own the opportunity to design fitting coverage for a variety of business obligations.
Types of Surety Bonds
Our agents work as an extension of the businesses they secure. If unfortunate situations arise, their guidance matched with coverage from trusted, established financial institutions is an unbeatable combination.
There are many types of bonds, and we can help you with them all — We are your bond experts!
Contract Bonds
Contract bonds are sometimes referred to as construction bonds and serve as a guarantee that a contractor or developer will complete the project they issued a bid. If a construction job doesn’t go as planned, the bond will step in to ensure payment for laborers, subcontractors, and suppliers. The coverage of a contract bond encompasses the following areas:
- Bid Bonds
- Payment Bonds
- Performance Bonds
- Subdivision Bonds
- Supply Bonds
- Site Improvement Bonds
Commercial Bonds
The commercial bonding process is broader, as a number of general surety categories fall under its umbrella. Bonds in this area differ greatly depending on the business seeking coverage. For example, an auto dealer in Gainesville would need a license and permit surety bond required by the Florida Department of Highway Safety and Motor Vehicles. However, a public official with the Alachua County Clerk of Court would be entitled to a public official surety bond, ensuring the individual will perform his or her official duties while in term. The general categories for surety bonds we produce includes:
- License and Permit Surety Bonds
- Fidelity Surety Bonds
- Fiduciary Surety Bonds
- Public Official Surety Bonds
- Court Bonds
Within these categories, agents offer guidance toward the specific bonds clients need. These specific commercial surety bonds include but are not limited to:
- Mortgage Broker Bonds
- Insurance Agent Bonds
- Auto Dealer Bonds
- Agriculture Bonds
- Employee Dishonesty Bonds
- Janitorial Bonds
- ERISA Bonds
- Administer Bonds
- Guardian Bonds
- Trustee Bonds
- County Clerk Bonds
- Notary Bonds
- Tax Collector Bonds
- Attachment Bonds
- Court Costs Bonds
- Indemnity to Sheriff Bonds
We’d be honored to review your operations and determine which bond makes sense both financially and legally for your business. To learn more about the surety bonds we write, contact our agency.
At King Risk Partners, we’re proud to provide surety bonds to our clients. We’re licensed to serve many states across the Eastern and Southeastern regions of the United States.