Which Bond? Many types of bonds for individuals and businesses.
Do you have a business that occasionally needs to be bonded? Cardon Insurance Agency offers construction bonds, as well as notary bonds, title bonds, and vehicle bonds. Also called a surety bond, a bond helps investors hedge against various risks form another parties inability to perform to specifications.
Cardon Insurance Agency can secure the bond you need to bid on large public sector and government contracts. Call us for more information. Cardon can contact multiple surety companies to provide the best terms and price for you. The purpose of surety bonds is to protect another party (i.e. a general contractor) or the general public (like the person getting a document notarized).
Construction bond required for large and government construction projects
Guardianship Bond
When children or adults cannot care for themselves the courts award guardianship to another person. Often a court bond is required because the guardian has control of another persons well-being, finances, and medical treatment. The bond assures that the guardian is looking after their ward’s best interests and not taking advantage. Guardianship bonds, also called custodial bonds, also prevent frivolous lawsuits. More information about guardianship for incapacitated adults, minors, and adults who are developmentally challenged.
Construction Bonds
A Construction bond, also called a construction surety bond or a contract bond protects against disruptions, failure to complete a project, or a contractor’s failure to meet specifications of the contract.
A type of surety bond used by investors in construction projects to protect against an adverse event that causes disruptions, failure to complete the project due to insolvency of the builder(s), or the job’s failure to meet contract specifications. Often a sub-contractor must show the ability to secure a bond to be allowed to bid on a project already secured by a general contractor.
Bonds for notaries
In Texas, a Notary is required to have a $10,000 bond to protect the public from possible damages caused by the notary. The purpose of a notary bond like any other surety bond is that it assures the public that the Notary is properly licensed by the State of Texas and is acting within his or her professional authority. Notary bonds are fairly inexpensive, about $71 for four years including a state filing fee of $21.
The Surety Company selling bonds does not protect the notary against any damages or penalties. The bonding company can collect the full amount of any payments they made on the bond from the notary. Inexpensive errors and Omissions insurance is available to protect a notary from liability lawsuits if an error is made.
Title Bond or Vehicle Bond
If you lost the proof of ownership information, you may need to purchase a bond to re-instate title. Title bonds are also required if you bought a vehicle without a title.
See more information for Title Bonds in Texas
Bonding for other purposes
Bonds are available for other situations not listed. For example, a jewelry store may require their employees to be bonded, or even a carpet cleaner who goes into people’s homes. Call the bond experts Mercie and Vilma today for more information.