Bonds
Bonds are specialized with their own set of procedures and contracts. As a full-service insurance agency, we are able to provide you the necessary information in meeting your bonding requirements.
• Bid Bonds: A bond that guarantees that a contractor will enter into a contract, if the bid is successful and the project is awarded to him, and furnish any contract bonds as required of him by the terms of the contract.
• Performance Bonds: A bond that guarantees that a contractor will perform under the contract in accordance with all the specifications of the bid submitted. It is usually associated with construction work and projects but can be used with most contracts.
• License & Permit Bonds for cities: License bonds guarantee compliance with various city, county and state laws that govern issuance of a particular license to conduct business. Permit bonds guarantee that a person licensed by a city, county or state agency will perform activities for which the bond was granted, according to the regulations governing the license.
• Guardianship Bonds: A guarantee issued by an insurance or bonding company that a guardian will properly account for all money and property owned by a minor, or other individual that may have a physical or emotional disability, and that the guardian will perform his/her guardian duties as required by law.
• Supply Bonds: A bond between a supplier and a purchaser guaranteeing that the supplier will furnish supplies or materials as specified in a contract. If the supplier defaults on the terms of the contract, the surety will indemnify the purchaser of the supplies or materials against any loss sustained as a result of the default.
— Apollo Insurance Agency - 28 11th Avenue South , St. Cloud, MN 56302 - (320) 253-1122 - Toll Free: (800) 247-7016 —
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