A Guide to Posting Bail and Surety Bonds
Many people who get arrested are able to secure their freedom through bail. Bail amounts are set by the court based on crime severity and flight risk. Bail agents licensed and knowledgeable help facilitate posting about legal guidelines.
To obtain bonds, contractors must be prepared for a rigorous review the surety underwriter’s credit department looks at financial statements, scrutinizes projects and dissects contracts.
What is a Surety Bond?
A surety bond is a contractual agreement that guarantees performance by a party. The party receiving the guarantee is referred to as the obligee and the party providing it is known as the surety or principal.
Obtaining a surety bond involves several steps. First, the principal must determine the exact bond amount they will need. Then, they must complete the required application. They must also be prepared to provide any additional documentation that may be requested by the bonding company.
Once all the necessary information has been provided, the bonding company will usually issue a quote within 24 hours. A great surety agency will make the bonding process as smooth and painless …
