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Bonds
A bond guarantees the fulfillment of a legal
obligation. It's a three-party agreement where the third party (surety
company) guarantees to a second party (obligee or owner) the successful
performance of the first party (principal). One of the primary uses of
bonds today is to protect public and private funds from financial loss.
A surety bond is not an insurance policy. An insurance policy assumes that there will be a loss, so the premium for an insurance policy is calculated to cover losses that will occur. A bond, on the other hand, is an extension of credit with the assumption that the legal obligation will be fulfilled, and consequently, there will be no loss. The bond premium paid to the surety covers only the underwriting expenses of the surety company. When losses occur, they have a significant impact on the surety company's financial results. Hamilton Brewart has built its reputation by providing unparalleled service. Our Surety Bond service offers a comprehensive portfolio of markets targeting the construction and legal industries. Our Surety Bond professionals understand the risks inherent to these industries and are uniquely positioned to help our clients manage these risks by maintaining a strategy that maximizes surety credit. We handle everything from a complete review of your financial history through effectively managing the relationship with your bonding company. Our Bond Services Include:
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Our experienced team of specialists
will assist you in getting the best value for your money and also guide
you to implement controls for cost-reduction.
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