Insurance Bond/Underwriting

Insurance Bond/Underwriting?

An insurance surety bond is a three-party, legally binding agreement guaranteeing that a contractor or business (Principal) will fulfill its contractual or legal obligations to a client (Obligee). Unlike insurance, the surety company acts as a guarantor rather than a risk-pooler, requiring the principal to reimburse them for any claims paid. Common types include contract, license, and permit bonds.

Sometimes, a business may be required to have a surety bond to guarantee that work they are contracted to do will be accomplished. Each surety bond must be uniquely tailored to meet specific needs.

At Solid Base Insurance, our job is to guarantee the protection of both interests of lender and borrower; but most importantly ensure the lender's principal sum is indemnified and secured within the loan term.