A specific type of surety bond is often required by an individual or company to satisfy and legally guarantee their respective obligations, be it contractual, judicial, legislative, or fiduciary.
Commercial surety bonds represent a wide spectrum of products and range in the thousands of different types. Commercial surety bonds normally respond to an act/law and can be part of a licensing requirement.
These products can include anything from the legal requirement to obtain a specified licence, administer the will of a deceased party(ies), adhere to government and provincial statutes, provide legal protection to a third-party consumer, or provide financial guarantees to a financial institution.
Commercial Surety is comprised of the following major classes of bonds:
- Customs and Excise (BMC-84 Property Broker Bond, Release of Goods, Carnet, Canadian and US Bonded Highway Carrier Operations, Spirits Licence)
- License and Permit (Consumer Protection, Auto Dealer’s, Employment Agency, Collection Agency, Foreign Recruiter)
- Fiduciary (Estate Trustee, Foreign Executor, Administration, Probate)
- Fidelity Bond (Employee Theft)
- Lost Document (Fixed-penalty, Bank Draft, Certificate, Certified Cheque)
- Various other special commercial bonds
Surety bonds act as a financial guarantee, protecting the Principal(bond holder), consumer or business against fraud, misrepresentation and compensation of monetary loss and are required by the Courts, Federal, Provincial and Municipal bodies, financial institutions and private Corporations.
There are many commercial surety bonds that fall under this category. The bonds that would normally fall under this category are those bonds that are not part of a law/act or licensing requirements. The most common bonds are:
|A.T.A Carnet Bond||Guardian Bond|
|Administration Bond||Health Studio Bond|
|Administrator De Bonis||Highway Traffic Act Bond|
|Administrator Pendente Lite||Lease Agreement Bond|
|Administrator With Will Annexed Bond||Livestock Dealers & Products Bond|
|Agricultural Products Bond||Load Broker Bond|
|Air Charter Bond||Lost Instrument Bonds|
|Appeal Bond||Lottery Bond|
|Appeal Customs Bond||Market Intermediaries In Damage Insurance Bond|
|Auctioneer Bond||Milk Board Bond|
|Automobile Vehicle Registration Bond||Missing Heir Bond|
|Bailiffs Bond||Mortgage Brokers Bond|
|Bonded Air Carrier||Nonresident G.S.T. Bond|
|Bonded Freight Forwarder||Notary Bond|
|Bonded Highway Carrier||Payment Guarantee Bond|
|Carnet Bond||Plumber's Bond|
|Charitable Promotion Bond||Pre-Arrangement Funeral Service Act Bond|
|Collection Agency Bond||Private Investigator & Security|
|Committee Bond||Private Vocational School Bond|
|Consumer Protection Act Bond||Probate Bonds|
|Court Bonds||Real Estate Broker Bonds|
|Customs Bonded Warehouse||Release Of Goods Bond|
|Customs Brokers Licence Bond||Replevin Bond|
|Customs Sufferance Warehouse Bond||Road Cut Permit Bond|
|Denatured Alcohol Bond||Roofing Contractors Bond|
|Direct Sellers Bond||Sand Pit Bond|
|Driver Training School Bond||Securities Act Surety Bond|
|Duty-Free Shop Bond||Sewertappers Bond|
|Electricity Bill Payment Bond||Single Trip Customs Bonds|
|Employment Agency Bond||Solid Waste Management Bond|
|Excise Tax Act Bonds||Sub-Division Bond|
|Foreign Executor Bond||Temporary Importation Of Articles Bond|
|Farm Machinery Bond||Tobacco Sales Tax Bond|
|Fuel Tax Bond||Transponder Bond|
|Guardian Bond||Travel Agents Bond|
|Gas Contractor's Bond||Trustee In Bankruptcy Bond|
|General Excise Carrier Bond||Used Car Dealer Bond|
|Goods & Services Tax Bond||Waiver Of Probate Bond|
Commercial Surety Bonds have proven to be a cost effective method of ensuring compliance with a variety of important laws and regulations. They are essential to an individual or company’s commercial activity.
At Ai Surety Bonding, our commercial specialists have the knowledge and expertise to facilitate all of your commercial surety needs. Utilizing our network of Surety Market partners, we can write and issue any commercial bond(s) quickly and easily and have it delivered to the client next-day.
Applying For a Commercial Bond? Have Questions or interested in more info?
Contact our surety experts at 1-877-213-4545 or email@example.com