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Commercial Bonds

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Commercial (or business) surety represents almost everything outside of "sticks and bricks" in the surety bond world. While most sureties define this as anything other than construction, there can be characteristics of contract bonds in commercial bonds. This would apply to areas of supply and install contracts that could be a part of an overall construction project, or license and permit bonds, for example.

The commercial bonds world has a variety of obligations, the majority of which apply to public statutory requirements. Most of this is known as license and permit. These bonds respond to a law or statute that will spell out certain obligations that are meant to protect the public's interest. These bonds pertain to financial responsibility as well as professional conduct. Some examples are private school and residential fund bonds.

Other commercial bond types are guided by the court systems. Some examples of these are replevin, appeal, supersedes and attachment bonds. There are bonds for probate such as guardian, administrator and executor bonds.

There are still many other obligations such as customs bonds, workers compensation bonds and union bonds.