Why do you need a financial guarantee bond?
A financial guarantee bond is needed to guarantee the payment of items such as taxes, leases, etc. This isn't technically a specific bond type, as the term "financial guarantee bond" is used when referring to commercial bonds such as fuel tax bonds, sales tax bonds, etc.
For example, if you don't submit payment according to the terms of your bond, a claim can be filed on your bond. The claim will initially be paid by the surety who wrote your bond, but will ultimately come back to you for reimbursement.
