A surety bond holds someone financially accountable and by doing so, they are encouraged to act in an ethical and responsible manner. Watch the video below to learn the basics of surety bonds.
This three party agreement is a guarantee by the Surety that the Principal will fulfill their required obligations to the Obligee.
There are a number of different types of bonds that are required by an obligee. However, they can be characterized in two main categories.
Contract bonds guarantee a specific contract and examples include:
Commercial surety bonds are required of individuals or businesses typically by the government, legislation or particular clients/jobs. These bonds are typically used to protect the public interested and some examples include:
Alpena
514 N Ripley Blvd
Alpena, MI 49707
(989) 356-6133
Hillman
150 State St
Hillman, MI 49746
Local: (989) 742-4574
Oscoda
117 S State St
Oscoda, MI 48750
Local: (989) 739-1461
Traverse City
3183 Logan Valley Rd
Traverse City, MI 49684
Local: (231) 947-1164
Mio
607 S Morenci Ave
Mio, MI 48647
Local: (989) 826-3989
Iron River
117 W Genesee St, Ste 1
Iron River, MI 49935
Local: (906) 265-5137
Petoskey
322 Bay St, Ste 1
Petoskey, MI 49770-4401
Local: (231) 347-4610
Gaylord
440 W Main St, Ste F
Gaylord, MI 49735-1401
Local: (989) 705-8664