bonding company
Bail guarantee business
A bonding company is a business that issues surety bonds—guarantees that a person or company will fulfill contractual obligations or legal requirements.
Contractors typically obtain bonds from bonding companies before starting projects, protecting clients if the work isn't completed: The city requires all bidders to be approved by a bonding company.
Bonding companies also provide bail bonds for defendants awaiting trial.
- obligeeParty owed performance
- construction industrySector erecting structures
- public worksGovernment-built community structures
- guarantorOne pledging another's obligation
- claims processSteps to seek compensation
real estate transactions · underwriting · credit check · risk assessment · financial backing · liability · small business · government contracts · reinsurance · legal compliance · service fees · regulatory agency · financial solvency · breach of contract · contract law · transportation industry · manufacturing sector · energy projects