Box Insurance
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Surety Bonds |
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Let Box Insurance handle all of your bonding needs
– quickly and professionally! We offer many types of bonds, however, these
programs are for our current clients only:
- Payment and Performance
Bonds: These two bonds
are types of contract bonds used to provide the financial
guarantee of an insurance company that a job will be performed
per the contract (performance bond), and that the subcontractors
will be paid according to the contract (payment bond). The
three primary areas that an insurance company will review
before issuing this guarantee are known as the three C’s:
character, capital and competence. The insurance company
wants to know that you are ethical and of strong character,
that you have the financial strength to complete a job when
it goes bad, and that you have the experience and competence
to complete the type of work you are bonding.
Typically, the underwriting process for a bond program is
extensive and should not be entered into without significant
planning, however, if you need a one-time bond or just a
few bonds each year that are less than $500,000 contracts,
then we offer a SureQuick program through SureTec. Follow
this link to the application to consider your bond:
http://www.suretec.com/forms/SureQuick%20Bond%20App.pdf
- Maintenance
Bonds: A Maintenance Bond is a type of contract bond
that contractors need to guarantee that a project will be
maintained for a period of time (one or two years) after
the job is completed. It is often time expressed as a percentage
of the contract amount. The majority of these bonds are
required in addition to the Payment and Performance Bond,
however, there are times when they are required by themselves.
- Fidelity
Bonds: A Fidelity Bond guarantees that bonded employees
will handle their employer's money and property with fidelity.
In other words, it guarantees that they won't steal. Please
complete the appropriate application and return it to Box
Insurance Agency.
Pension or 401(k) Bond: http://www.cnasurety.com/services/pdf/E6540.pdf
Employee Dishonesty Bond: http://www.cnasurety.com/services/pdf/E6547.pdf
- License
and Permit Bonds: These bonds are required to obtain
a license or a permit in any city, county or state. These
bonds guarantee whatever the underlying statute, state law,
municipal ordinance or regulation requires. They may be
required for a number of reasons, for example, paying certain
taxes and fees and providing consumer protection as a condition
to granting licenses related to selling real estate or motor
vehicles and contracting services. Please follow the link
to the Form 10 application and follow the instructions.
On the second, complete only the license and permit section.
http://www.cnasurety.com/services/pdf/EForm10.pdf
- Miscellaneous
Surety Bonds: There are many different types of Surety
Bonds for all types of purposes, such as lost title bonds
to lost security bonds. If the bond exists, we can typically
track it down for you. We suggest that you begin the process
by completing the first page of the Form 10 application
by following the link below. Return to Box Insurance with
a description of what you need, and we will take it from
there.
http://www.cnasurety.com/services/pdf/EForm10.pdf
- Notary
Bonds: This is a bond required by state statute to protect
against losses resulting from the improper actions of notaries.
The cost is $101, and the bond is good for four years. The
bond must be completed in an individual’s name. Please complete
and sign the formal bond application, and return it to Box
Insurance with $101 made payable to Box Insurance Agency.
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