What is a security bond?
"Security bond" is a mispronunciation of surety bond, and is generally used by individuals who are unsure of what bond type they need. The resources below will help guide you to the bond type you are looking for. There are a few different categories of surety bonds, including license and permit bonds, contract bonds (e.g. bid bonds and performance bonds) and court bonds. You can take a look at the most frequent surety bond related questions here. Keep in mind, it's crucial that you work with an expert in the surety industry. Learn more about how to ensure you choose the proper bond company.
The Consumer’s Guide to Surety Bonds E-Book
If you want the most thorough answers available to all of the fundamental questions related to getting a surety bond, you can download our free "Consumer's Guide to Surety Bonds" e-book. This e-book was created with first time applicants in mind, and is an excellent resource if you're unfamiliar with surety bonds.
- How surety bonds work
- How indemnity agreements affect you
- The various surety bond types required
- Surety bond pricing
- How to get bonded
- How claims affect you
This e-book was created with first time applicants in mind, and is an excellent resource if you're unfamiliar with how surety bonds work, pricing and how they can greatly affect you or your business.
Frequently Asked Questions
It is usually a mispronunciation of surety bond, which is a guarantee obligations will be met. There are hundreds of different surety bond types required such as contract bonds to guarantee a contract, court bonds required by law or the court and license & permit bonds that guarantee regulations for various occupations will be followed. If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.
Costs will vary dramatically by the bond category, applicant and bond amount. You can apply directly on our website to get an exact price. You can learn more about surety bond costs and how they are determined by reading our comprehensive pricing guide.
You only need one if it is being required of you. Surety bonds are required to operate and guarantee you will abide by the bond terms. On the other hand, fidelity bonds are usually optional and protect against employee dishonesty.