A surety bond is a legally binding contract between three parties: an Obligee, a Principal, and a Surety. The surety bond ensures that certain contractual obligations will be met.
The Principal is the business or individual that requires the bond. A surety bond guarantees that the Principal will act professionally and comply with all of the rules, regulations, laws, and contractual requirements. If a Principal violates any of their bond’s terms, claims could arise.
HCP National is a WBENC & MBE certified insurance brokerage. We can help you secure an affordable Surety or Fidelity bond that meets your requirements, instantly. Click here to access our instant surety and fidelity bond portal.