Surety Bonds

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What is a surety bond? A surety bond is a contractual agreement between at least three parties. The surety, the principal and the obligee agree under contract for the surety to make the obligee whole should the principal default in its obligations.

Commercial Bonds

Our agency provides responsive and flexible services to our customers in need of permit, license bonds and other commercial surety obligations. Our scaled pricing plan gives us the flexibility to assign a rate to a risk relative to the credit profile of the principle and indemnitor. Permit and license bonds are designed to guarantee that an individual or corporation will proceed in agreement with government statutes, ordinances and regulations. We offer a full range of permit and license bonds to guarantee obligations such as contractors bonds, title bonds, employment agency bonds, mortgage bonds, tax preparer bonds, ship broker bonds, escrow license bonds, among many others.

Court Bonds

Title Redemption Bond
With respect to Alabama property purchased at a mortgage foreclosure sale, there is a one (1) year period of redemption, commencing on the date of the foreclosure sale, during which time the property can be redeemed by the debtor, mortgagor, junior mortgagor, any judgment creditor, and by a transferee, spouse and/or children of the debtor, mortgagee, or transferee. After a purchaser at a foreclosure sale determines that he or she is desirous of selling the property purchased at foreclosure, there are other complications should the buyer attempt to sell the property before the one (1) year period of redemption has expired. For certain types of government insured loans there are federal government regulations relating to the sale of foreclosed property that limit the amount of profit that an investor can make on a transaction if the new purchaser is using one of these loan programs. If the sale is taking place within the one (1) year period of redemption, it might also be necessary for the investor to purchase a "redemption bond" in order to indemnify the new lenderís title insurance company against redemption and to induce the company to insure the title without making exception for the right of redemption. Redemption Bond premium is one and one-half (1 - 1 Ĺ %) percent of the new loan amount and can be very expensive. Please contact our office at (800) 594-2357 for additional requirements and an application.

Notary Public Bond
Required by the probate court to be a Notary. To fill out a application for a new bond, go here or here for a renewal. Feel free to call our office at (800) 594-2357 for additional needs.

Contract Bonds
Performance Bonds are designed to ensure that a contractual agreement will be performed within the terms and specifications outlined. As an example, should a contractor default, a performance bond in general will obligate the surety to finance the contractor and undertake completion of the project, or tender a replacement contractor for the owner. The last option is for the surety to pay the bond penalty. Maintenance Bonds are designed to ensure that a project will operate free of defects in both materials and workmanship for a designated period of time. Payment Bonds and Labor and Materials Bonds are designed to ensure that a contractor will make timely payments in full for materials and labor in support of the project. We are a leading provider of contract bonds for small and mid-size businesses alike. We frequently work with contractors who have periodic bond requirements and offer surety solutions for those contractors who may find they do not meet the "credit model" requirements of other surety underwriters. We are an active participant in the U.S. Small Business Administration Bond Guarantee program and provide solutions to many minority businesses in need of contract bonds. We offer fast, hassle-free bonds under our one-page application program with limited paperwork on projects that fall under $250,000.