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Burlington, WI Surety Bonds

You’ll never lose if you call Pro Surety Bond your bond provider. We specialize in all types of Contract and Construction Bonds including Payment and Performance Bonds, Subdivision and Off Site Bonds, Bid Bonds, License and Permit Bonds, Court Bonds, Fidelity Bonds and all types of Miscellaneous Surety Bonds. Call 800-314-7003 and speak with a skilled agent who can help you make a decision on your surety bond. A representative can help set you on the right path. Call the Burlington Surety Bond Pros at 800-314-7003 !

There Are No Better Rates On Burlington Surety Bonds

Call 800-314-7003! What is a surety bond? A surety bond is a guarantee that one party will live up to a commitment that another has made to it. If you need a business license, for instance, the government has requested you to take out a surety bond as a guarantee of the commitment you have made that you will obey the regulations of your industry and do business honestly. If you do not do so, you can be fine or a claim can be made against you. You could put up this money as a security, but this would be a waste of your working capital, since very few people actually have claims made against them. Rather, when you buy a surety bond, you are sort of renting the financial reputation of the surety, and that’s why governments trust them. If you should get to the point where a claim is made against you, the surety has already agreed that it will pay any claim as long as it's valid. Keep in mind that this is a short-term loan made to you and must be paid back. Pro Surety Bond has over 25 years of joint industry experience. Call 800-314-7003!

Bidding Opportunities in Burlington

If you are bidding on public projects for the City of Burlington you may be required to post a Bid Bond. The Bid Bond guarantees you will be able to provide the Performance Bonds required in the event you are the low bidder. In essence the Bid Bond pre-qualifies you for the work you are bidding on. Not all jobs require bonding but if they do we can assist you with Bid Bonds, and subsequent Performance and Payment Bonds as required by the state. Please call the Contract Bond Team at Pro Surety Bond for more information.

Click Here for Bidding Opportunities for the City of Burlington

300 N. Pine St. Burlington, WI 53105

Phone:262.342.1161
Map to Finance Department

The Community of Burlington, Wisconsin

Burlington is a city in Racine and Walworth counties, and it is the 63rd most popular community in the state of Wisconsin. The site that would become Burlington was originally settled by Native Americans, the Potowatami specifically. The first Europeans to settle on this site was in the fall of 1799, when a group of French explorers arrived. The first person of English descent to live on the site was a man named Moses Smith, who was the son of a revolutionary war veteran. The original name of the site was Foxville, but later the residents of the city changed it to Burlington after City of Burlington, Vermont.

Will I need collateral for my performance bond? That will vary from situation to situation, and from company to company as well. If you need collateral to get a surety bond, it means that the surety is not confident that you can pay back a claim it has paid out. Don’t stress about it too much, though. Collateral is not ideal, but it happens more than you’d think. Some companies have lower thresholds for requiring collateral than others, so there's no industry standard. However, sometimes just putting up some cash in the form of a letter of credit will get you a bond. If you do have to put up collateral, you'll have to sign a collateral agreement according to the shortest terms.  Call the Burlington Surety Bond Pros Today at 800-314-7003

Who is the obligee in a surety bond transaction? The obligee is the party that wants coverage from the principle, which is the party buying the bond. The obligee requests the bond because it wants a guarantee from the principal of some performance. But often it can be difficult for principal to come up with the amount of money needed to cover what the obligee demands, and that's where surety bonds come in. When the principal buys a surety bond, the surety promises the obligee that it will pay any valid claim even if the principal does not agree with the claim, or any other reason for that matter.

Burlington Surety Bonds Are On The Way

At the same time, the surety company enters into an agreement with the principal, and that agreement states that the surety company will put up the money for any claim, as long as it's valid, with the provision that the principal will pay the surety back. The surety goes to a lot of trouble to make sure that the principal is financially sound enough the pay back that claim, and to further bolster its position, it requires the principal to sign an General Indemnity agreement. When the principal purchases the surety bond, it is in a sense renting the financial strength of the surety company, and that's why obligees will trust surety companies if they have to make a claim. Give us a call at 800-314-7003.

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There are literally thousands of different Surety Bonds to guarantee the performance of businesses and individuals. The following list of are the bonds we most commonly see.