Surety Bonds

 

Protect Project Contracts With Surety Bonds


surety bonds

Can you foresee your business in a situation where it is unable to honor a contract? How would it protect itself in the face of failed obligation from a client and the work that was promised?

In such cases, your business could use the protection a surety bond provides if it can’t fulfill a contracted project.

A surety bond, secured from a surety company, would find another contractor to complete the contract or would compensate the project owner for the financial loss it has incurred. For some projects, surety bonds are a flat-out requirement.

O’Donovan Insurance, LLC’ independent insurance agents have done their research on surety bonds and are ready to help find the right option to cover your project contracts. With more than 30 years of insurance and bond experience, we seek to spend the one-on-one time with every client to make sure the right protection is in place.

We’ll Help You Pick The Right Surety Bond For Your Project


An O’Donovan Insurance, LLC’ independent insurance agent is ready to share with you all you need to know about the types of surety bonds and what each could do to protect your company. Some surety bonds include:

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    Bid Bond

    Ensures the purchaser will provide the required payment and performance bonds if awarded the contract.

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    Performance Bond

    Ensures the contract will be completed to the standards provided in the contract itself.

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    Payment Bond

    Ensures suppliers and subcontractors are properly compensated for performed services.

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    Ancillary Bond

    Ensures performance of requirements integral to the contract, even if they are not directly performance related.

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As an independent insurance agency, we are a one-stop shop that has your best interest in mind, including making surety bonds a part of your insurance protection.

Are Surety Bonds Necessary For Your Next Project?


Whether your project requires a surety bond, or you foresee uncertainties and want to have one in place, O’Donovan Insurance, LLC, an established family-owned and personally caring insurance agency, is ready to help your business and the projects it takes on.

Feel free to call our insurance agents to talk about surety bond options now at 800-410-6333. We’re ready to help.