Surety Bonds

A surety bond or surety is a promise to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.

At Bennett Insurance Group we work with many of the country's top-rated surety companies to secure:

Contract Payment and Performance Bonds

Fidelity Bonds on Employees

Code Compliance Bonds

Judicial and Court Bonds, including estate guardianship and repletion bonds

Professional Service Bonds

The History of Surety Bonds

Individual Surety Bonds are the original form of suretyship. The earliest known record of a contract of suretyship is a Mesopotamian tablet written around 2,750 BC. There is evidence of Individual Surety Bonds in the Code of Hammurabi and in Babylon, Persia, Assyria, Rome, Carthage, the ancient Hebrews and later England.

The Code of Hammurabi, written around 1790 BC, was the first time suretyship was addressed in a written legal code.

It wasn't until 1840 that the first Corporate Surety was organized, The Guarantee Society of London.

When considering your needs for insurance products for your home or business remember contacting Bennett Insurance Group is the right move.  Give us a call at 623-979-4140

Presented By:
Jim Bennett
Bennett Insurance Group
623-979-4140
http://jimbennettinsurance.com
jim@jimbennettinsurance.com