In the simplest of terms, surety bonds are financial guarantees that are backed by the resources of insurance companies.
Contract bonds are obtained by underwriting the financial strength of the entity and the personal financial strength of the Principals/Owners.
Commercial bonds are commonly underwritten based on the FICO score of the Princiapals/Owners and in some case the entity and personal financial strength of the Principals/Owners.
There are a number of different types of surety bonds that may be required in your business. Thesse include, but are not limited to:
- License/Permit Bonds
- Notary Bonds
- Court Bonds
- DMV Bonds
- Payment and Performance Bonds
- Fidelity Bonds
- Offsite Bonds
Obtaining and maintaining surety bonds is an essential component of most businesses. The process should not be difficult or challenging if you are working with the ideal Nevada bonding Broker. You want a provider who can provide an extensive depth of knowledge, broad market access, and timely turnaround all while affording competitive rates.
Surety bonding gives your clients peace of mind in knowing that you stand behind your business and services. Bonds are a guarantees that should you fail in some way to fulfill the terms of a contract, your customers are protected by the bond for losses they may incur. Not only are surety bonds excellent for providing a sense of security, they provide vital legal protections that may allow you to stay in business.
If you own or operate any construction or professional services company in Nevada, it’s essential that you seek out and partner with a strong Nevada surety bond specialist.
Harris Insurance has a 40-year legacy of providing surety and bonding services to clients throughout the state of Nevada. Whether you are ready to embark on obtaining your first license bond or you need assistance with payment and performance bonding, we’re ready to help. Get in touch with us for more information or to start building your surety program today.
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Harris Insurance Services, Inc.
6445 W. Sunset Rd., Ste. 156
Las Vegas, NV 89118
Toll Free: 855.202.6611