Bonds
Bonds are often required by a person or company in order to run their business. At Hoffmann Kool we represent several surety companies that can supply a wide variety of bonds.
A Contract Bond guarantees that the contractor will carry out the obligations of his contract. Bid bonds, performance bonds, labour & material bonds are some of the contract bonds that are available.
A Fidelity Bond protects an employer against the dishonest acts of his employees. Larceny, theft, forgery and embezzlement or other fraudulent or dishonest acts of employees are protected with a fidelity bond.
Government authorities and some businesses require that you post a bond before they will allow you to engage in your business activities. These are Licence and Miscellaneous Surety Bonds. Building movers, electrical and gas contractors and auto dealers are a few examples of businesses requiring this type of bond.
A Service Bond is used when a business owner is required to guarantee the performance of himself or his employees in case of a dishonest or fraudulent act being committed during the course of their work. Carpet cleaners, janitorial services and painting contractors are a few examples of businesses that may require this type of bond.
Administration/Fiduciary bonds and Lost Securities Bonds are also available.
Please contact our office for information on the bond application process.
