What is a Surety Bond?
A surety bond is a three-party agreement between:
Surety bonds are in place as a guarantee that if a principal defaults on an agreement, such as a construction contract, the surety company will provide necessary support to ensure the agreement is met. In order to obtain a surety bond, a principal must qualify by showing they have the ability to meet the terms of the agreement. Qualifications include, but are not limited to: adequate captial, available capacity, strong character, sufficient credit, and experience.
Work from a position of strength. We do. The Ware Company has consistently been a leader in Hampton Roads when it comes to bonding. We maintain long-term relationships with our surety providers, underwriting firms, and bond processing companies to maximize your opportunities and to keep your position strong.