A surety bond is a contract between three parties – the principal, the surety and the obligee – in which the surety financially guarantees to an obligee that the principal will act in accordance with the terms of the established bond.
Maintaining a solid surety program is vital to your contractor’s operations. Given the current state of the market, it is important for the Contractor, the Contractor’s Representative (Broker) and the Surety underwriter to form a solid relationship so that all parties are able to positively react to the changes in the business environment.
TSIB’s Surety Division works collaboratively with owners in order to best determine their bonding needs. From general contractors to subcontractors, we review a company’s size, industry, field of expertise, financial picture, and credit risk in order to help match their objectives with a network of professional, experienced sureties.