Author: Margaret Lewis

Top 10 Things to Know About Surety Bonds What Are Surety Bonds? Surety bonds are three-party agreements whereby a surety company guarantees to an owner (obligee) that the contractor (principal) shall perform its contractual obligations. These include bid bonds, performance bonds, and payment bonds. For more information on these bonds and how they can benefit your business, explore Alpha Surety Bonds services. Types of Surety Bonds Bid bonds make certain that contractors submit serious bids and undertake the contract. Performance bonds guarantee project completion according to contract terms. Payment bonds allow for payment of subcontractors and suppliers. Surety Bond Companies…