What is a surety bond?
Surety bonds are a three-sided contractual agreement guaranteeing that a business or individual fulfills their obligations under a contract and in accordance with business regulations. The three parties involved agreement are the obligee (party requesting a surety bond), the principal (party obtaining the bond) and the surety (the surety company backing the surety bond financially).
How Surety Bonds Work?
To get bonded, you need to pay only a small percentage of the bond amount, called a bond premium. This percentage is different for every applicant and it is based on numerous factors, such as the type of bond needed, credit score, financial statements and more. To get an estimate of how much your bond might cost, give us a call or fill out the form online for a free, no obligation assessment.
Has your capacity outgrown your bonding program?
Have they been declined by other markets?
Are you running out of time or having response issues with surety providers?
Jump-start your bidding and get Bonded Today!!!
If you are a contractor in Ohio, Arnold Insurance Agency’s surety bond department will:
Painlessly resolve initial bond needs.
Provide a fail-proof plan for surety bond reduction.
Assist in smoothly obtaining additional surety credit with our prequalification service.
Work with you and your CPA to expand single job and aggregate work program limits.
We offer discounted rate programs for qualified contractors so if you need a solution to:
Immediate bond requests
Affordable surety bonds
Expanding your program
Bond prequalification