Surety and Fidelity Bonds

Surety and Fidelity Bonds

What is a surety bond?

A surety bond is a three-party written agreement whereby a surety guarantees a specific performance on behalf of a principal (customer/insured) to an obligee. The obligee is usually a government entity such as a city, town, or state.

AIB is here to help you with the various types of surety bonds including, but not limited to:

  • License and Permit Bonds
  • Public Official Bonds
  • Probate and Other Court Bonds
  • Miscellaneous Surety Bonds
  • Contract Performance Bonds

What is a fidelity bond?

A fidelity bond is a form of business insurance that offers an employer protection against losses that are caused by its employees’ fraudulent or dishonest actions. With employee fraud causing business owners more than $3 billion in annual business profits, company owners must consider this type of coverage.

AIB is here to help you with your bond needs.