Bonding Insurance is a type of coverage on an insurance plan that guarantees payment when conditions aren’t fulfilled according to the terms in a signed contract. For this guarantee, the principal pays the insurer a premium as compensation for insurance.
There are a variety of types of bonds that serve the same purpose, to protect customers’ business.
- Performance Bonds
- Bid or Tender Bond
- Payment Bonds
- Commercial Bond
- Fidelity Guarantee
- Court Bonds
- Immigration Bonds
- Custom/Import Bonds