A bond guarantees the performance of a contract or other obligation. Bonds are three party instruments by which one party guarantees or promises a second party the successful performance of a third party.
The Surety--Is usually a corporation which determines if an applicant (principal) is qualified to be bonded for the performance of some act or service. If so, the surety issues the bond. If the bonded individual does not perform as promised, the surety performs the obligation or pays for any damages.
The Principal--Is an individual, partnership, or corporation who offers an action or service and is required to post a bond. Once bonded, the surety guarantees that he will perform as promised.
The Obligee--Is an individual, partnership, corporation, or a government entity which requires the guarantee that an action or service will be performed. If not properly performed, the surety pays the obligee for any damages or fulfills the obligation.
The example below illustrates how a surety bond works:
Joe, the principal, has promised someone (the obligee) that he will do something. If Joe fails to perform as he has promised, financial loss could result to that person.
Consequently, the obligee says to Joe, "If you can be bonded, I'll accept your performance promise."
Joe goes to a surety and asks to be bonded.
After the surety is satisfied that Joe is qualified and will live up to his promise, it issues the bond and charges Joe a "premium" for putting its name behind Joe's promise.
Joe is still responsible to perform as promised. The surety is responsible only in the event that Joe does not fulfill his promises.
Most surety bonds are written as a percentage of the bond penalty or bond amount. EZ Surety Bonds is a leading provider of license and permit bonds. License and permit bonds are typically required by a government agency when an individual or company wishes to be licensed. Most license and permit bonds are $100.
EZ Surety Bonds lists the price of each bond. Our bond prices are exceptionally low. We believe upfront pricing is very important.
You will receive an email copy of your surety bond almost instantly. At no additional cost, a stamped, sealed and signed version of the bond will be mailed to you. We are based in Georgia. Most clients receive mail bonds in 3 to 5 days.
In some cases, an obligee may not accept an electronic version of the bond. In the event that you need a bond faster than US mail, we provide a Fed Ex option. For a reasonable fee, surety bonds with hard seals and wet signatures can be delivered next day via Fed Ex.
We provide license and permit surety bonds in all 50 states. We offer nearly 3,000 surety bonds that can be purchased quickly online.
In addition to nearly 3,000 bonds that can be purchased online, EZsuretybonds.com provides:
We offer a Fed Ex delivery option on all surety bonds. If you complete your application and pay before 4 p.m. ET, you will have your bond the next business day.
Many government agencies will also accept the electronic version of your surety bond. You may contact your surety bond obligee to see if they will accept the Emailed electronic version of the surety bond that has been emailed to you.
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