License, Performance and Bid Bonds
Get A Free Quote
Piece of Mind for Your Clients
If your business delivers products for your clients, you are most likely familiar with Surety Bonds and why they are needed. A Surety Bond is a binding legal agreement that ensures both sides of a business obligation are met, or if they are not, the missed obligation will be reconciled in the form of payment. Volaris Insurance Group can help your business acquire the Surety Bonds you need to get the job done. Contact our team and let us help you find the coverages you need while staying within your budget.
Are you looking for the right bonds to keep your company compliant with federal, state, and local laws? Or do you already have proper bonding, but are looking for a more affordable option?
Regardless of what you are looking for, Volaris can find the right Surety Bond you need to keep business rolling.
Volaris is an independent insurance agency, allowing our agents to shop multiple carriers to find you the best bonds at the best prices.
How Does A Surety Bond Work?
Surety bonds often involve three parties.
- The Principal is usually the provider of the action or service – an individual, partnership, or corporation. They are required to post a surety bond, ensuring that the expected job will be performed.
- The Obligee is the party that is asking for the performance of an action or service. The obligee has hired the services of the Principal but needs a guarantee to ensure that the job will be accomplished or fulfilled. If the Principal fails to deliver what has been promised, the Obligee can collect the bond from the Surety.
- The Surety is the party that provides the guarantee if the Principal fails to provide or perform their obligation to the obligee. The surety will do a background check and evaluation on the principal to make sure that they are qualified to be bonded.