Surety bonds in New York can help protect your business and give you peace of mind.
A surety bond is a great way to guarantee that a large investment in a project is not lost – whether or not the work is completed. Bonds are an unusual form of insurance in that one person or organization pays for it, while another receives the benefit. Start-ups, retailers, landscapers, construction contractors, and more – Almost every type of business can benefit from the protection and security of surety bonds.
With a bond in place, a business owner has peace of mind that their business can continue even if they encounter situations that may affect the company unexpectedly. At Northeastern Group, we can help determine which surety bonds in New York are best for your business.
What are surety bonds?
Surety bonds are an agreement that guarantees that the bonded party will comply with various listed conditions. If a bond agreement is violated by the principle and results in loss or damages, a claim can be made against the bond to secure financial compensation. There are different types of bonds available, suiting a wide range of situations and businesses.
The different types of bonds we offer are:
- Contract Bonds (Bid and Performance Bonds)
- License and Permit Bonds
- Fidelity Bonds
- Fiduciary Bonds
- Court Bonds
- Judicial Bonds
- Public Official Bonds
- Miscellaneous and Federal Bonds
- Liquor Bonds
- Street Obstruction Bonds
- NYC Dept. of Consumer Affairs Bonds