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Thread: Protect

  1. Bond Magician
    Bond Magician is offline Senior Member
    Join Date
    Oct 2007
    Posts
    401

    Protect

    Does a bond do anything to protect ME?
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  2. Surety Wizard
    Surety Wizard is offline Senior Member
    Join Date
    Sep 2008
    Posts
    110

    The bond typically does not do anything to protect you. A bond is usually set in place to protect the obligee and your clients. This bond language states that you will operate your business ethically and under the guidelines they have set forth listed in the bond. The bond is a requirement for obtaining a license.
    The only protection or advantage for you is that it allows you to become licensed and if there ever would be a claim the Surety Company will step in and investigate a claim against you before they pay out.
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