Bond and Surety Solutions

 

Expertise from a team with over 100 years of combined experience to help determine the appropriate solution for your company.

Benefits for contractors

 

  • Increases the number of projects for which a contractor can qualify
  • Ensures payment protection for subcontractors, suppliers, and laborers
  • Technical, managerial, or financial assistance can be made available in certain circumstances

 

 

Bid Bonds

Provides financial assurance that the bid has been submitted in good faith, and the contractor intends to enter into the contract at the bid price and provide the required performance and payment bonds.

 

Payment Bonds

Guarantees that the contractor will pay certain laborers, subcontractors and material suppliers associated with the project.

 

Performance Bonds

Protects the obligee from financial loss should the contractor fail to perform the contract in accordance with the terms and conditions of the contract documents.

Benefits for business owners

 

  • Provides owners with a pool of qualified bidders
  • Reduces the risk of liens and financial loss
  • Increases the likelihood of timely project completion
  • Protects against defective materials and workmanship

 

License and Permit Bonds

Guarantees to a public entity (i.e. a state, municipality or township) that specific statutory provisions will be followed in order to obtain or renew a particular construction license or permit.

Maintenance Bonds

Guarantees the workmanship (and defective materials) of a project for a stipulated number of years after completion. The performance bond typically includes a one year maintenance period.

Notary Bonds

Guarantees the public in the event of financial damage caused by malpractice when performing notarial duties.

Benefits for lenders

 

  • Provides assurance that if the contractor is paid, the project securing the loan will be completed
  • Lender may be named as an additional obligee (beneficiary) of the bond

 

Fuel/Job Bonds

Guarantees the contractor will pay taxes to the Mississippi Department of Revenue on revenue earned.

Sales Tax Bonds

Guarantees the contractor will pay taxes to the Mississippi Department of Revenue on revenue earned.

Lottery Bonds

Guarantees that the business owner will report all sales and earnings of lottery sales to the Mississippi Lottery Corporation.