These industries are typically required to post commercial bonds:
Banks
Insurance Companies
Healthcare facilities
Manufacturers
Mining & Metals industry
Utility / Power Companies
Retail & Wholesale
Service Contractors
Transportation
Types of Commercial Bonds:
Bankruptcy Trustee Bonds
Required by bankruptcy courts to ensure that the trustee will uphold his responsibilities as ordered by the court, for the benefit of creditors.
Business Service Bonds
Protects against theft, fraud, or dishonesty committed by the principal and employees during the course of business operations. Required by various state DOTs, attorneys general, & other regulatory agencies.
Customs Bonds
Required by U.S. Customs & Border Protection to guarantee proper payment of customs duties, fees & taxes.
Decommissioning Bonds
This ensures that the principal will take responsibility for safely dismantling, removing, and disposing of equipment, assets, or facilities in line with all regulatory and industry requirements, while also covering the costs involved.
ERISA Bonds
Employee benefit plans are protected from losses caused by fraud or dishonesty by those administering the plan.
Janitorial Service Bonds
Protects a business from theft originating from a janitorial service company.
Lost Instrument Bonds
Required by bank or transfer agent for protection in cases of duplicate financial issuance, i.e. lost check, deed, CD, etc.
Medicare / Medicaid / DMEPOS Bonds (Durable Medical Equipment, Prosthetics, Orthotics, and Supplies)
Required for healthcare providers to guarantee compliance with Medicare/Medicaid regulations.
Patient Trust Bonds
Aka “nursing home bond”, guarantee that healthcare provider will handle patient funds lawfully and legally. Also provides financial assurance to the families.
Public Official Bonds
Guarantee that elected officials perform their duties honestly and ethically.
Reclamation Bonds
Guarantees that the principal carries out and funds all reclamation and rehabilitation measures needed to restore the site to an approved condition, in accordance with environmental laws and without incurring further liability.
Sales Tax Bonds
Guarantee that businesses will pay sales taxes to state and local governments.
Self Insured Workers Compensation Bonds
Required by state’s Department of Insurance for a business that self-insures its workers compensation insurance plan. It further guarantees funds are available to pay its obligations under the applicable work comp laws.
Solar Decommissioning Bonds
Provides assurance that the principal will bear all costs related to the safe dismantling of a solar energy facility, including removal, disposal, and site restoration, in order to prevent environmental harm and financial exposure, according to the requiring authority.
Utility Bonds
Guarantees that utilities will pay for the use of public rights-of-way.
VA Fiduciary Bonds
Guarantees proper management of a veteran’s or dependent’s military benefits as fiduciary.
Wage & Welfare Bonds
Guarantee the employer will pay its workers agreed upon wage and pay union benefits.
Waste Hauler Bonds
Required by states or municipalities, these bonds guarantee the hauler adhere to applicable laws and regulations, handle & dump waste legally, & provide financial protection for any damages as result of waste hauling.
Order your commercial bond today by email newbond@cigbonds.com.