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Surety Bonds

A surety bond is a written agreement between three major parties; the surety, obligee and principal. The written agreement is a guarantee under which one party (the surety) obligates itself to a second party (the obligee) to answer for the default of a third party (the principal). Colonial offers surety bonds for multiple industries and professions.

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Probate Bond

Court bonds, such as appeal bonds, may be required in court proceedings to enable a party to pursue a remedy in court. Fiduciary bonds guarantee the faithful performance of court appointed fiduciaries such as executors, administrators, guardians, and trustees.

Notary Bonds

Notary bonds allow an individual to notarize the truth of an event and provide protection for the public.

Bid & Performance/Payment Bonds

Bid and performance bonds are used primarily in the construction industry to protect the owner from financial loss in the event that the contractor fails to fulfill contract terms or does not follow through on their bid. Payment bonds are used to protect those supplying labor or materials to a job.

Public Official Bonds

Public official bonds protect the public by guaranteeing the faithful performance of the public official’s duties of office and that the duties are performed in accordance with the applicable law.

License & Permit Bonds

License bonds guarantee the business will operate in accordance with applicable government rules and regulations. Similarly, permit bonds are required before a government agency will issue permits.

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