Commercial Surety Bonds
Otterstedt provides commercial surety bonds for a wide range of uses.
Commercial Surety Bonds guarantee performance of contractual obligations. The principal party is held responsible for any obligation or undertaking described in the bond.
Otterstedt’s standing in the industry gives you access to competitive rates. We represent some of the largest sureties, many who specialize in commercial surety.
Otterstedt offers commercial surety for the following areas:
- License and permit bonds, which are required by state law or local regulations in order to acquire a license or permit to engage in a particular business. That includes: contractors, motor vehicle dealers, securities dealers, Blue Sky bonds, employment agencies, health spas, grain warehouses, liquor stores and sales tax.
- Judicial and probate bonds, also referred to as fiduciary bonds, secure the performance on fiduciaries’ duties and compliance with court order. These include: administrators, executors, guardians, trustees of a will, liquidators, receivers, and masters. Judicial proceedings court bonds include injunction, appeal, indemnity to sheriff, mechanic’s lien, attachment, replevin and admiralty.
- Public official bonds, which pledge the performance of duty by a public official. These include: treasurers, tax collectors, sheriffs, judges, court clerks and notaries.
- Federal (non-contract) bonds are those mandatory by the federal government, for example, Medicare and Medicaid providers, customs, immigrants, excise, and alcoholic beverage.
- Miscellaneous bonds that include: lost securities, lease, guarantee payment of utility bills, to guarantee employer contributions for Union fringe benefits, and workers compensation for self-insurers.