Contractor Performance Bond
EVERYBOND Surety & Insurance Solutions
Contractor Performance Bond
A performance bond is issued to one party of a contract as a guarantee against the failure of the other party to meet obligations specified in the contract. It is also referred to as a contract. Bid and Performance bonds.
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money, intended to secure a futures contract, commonly known as margin.
How Does a Performance Bond Work?
A performance bond is a guarantee for the satisfactory completion of a project. It will require having a collateral property or investment to back up the requirements of the surety agency. A performance bond is usually issued by a bank or an insurance company, both of which act as a “surety.”
LLC Employee / Worker Bond
An LLC Employee/Worker Bond protects your business and its clients from financial loss caused by dishonest acts committed by employees. Many states require this bond for LLCs that handle customer property, access financial information, or perform services inside private residences. By securing an employee bond, your company demonstrates trustworthiness, accountability, and a commitment to ethical business practices.
Everybond makes obtaining an LLC Employee/Worker Bond simple and fast. We guide business owners through the complete bonding process, ensure you meet state requirements, and help you secure the best available rate. Whether you’re launching a new LLC or updating an existing compliance requirement, we make it easy to stay protected and operate with confidence.
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