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East Cleveland, OH Surety Bonds

Get a free surety bond quote from Pro Surety Bond today. 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. When you call 800-314-7003 , you'll be in good hands. Our bond counselors exist to answer your questions! Call the East Cleveland Surety Bond Pros at 800-314-7003!

East Cleveland Surety Bonds At Some Of The Best Rates The Market Has

Call 800-314-7003! What is a surety bond? A surety bond is a way one party can collect money from another if the latter party defaults on a commitment. What kind of commitment are we talking about? Like the kind of commitment a construction company makes when takes on work as a subcontractor. As a subcontractor on a project you are expected to finish your work within an agreed upon time and up to code. If you don’t the main contractor needs to be able to recover the money to pay for the work not finished. The surety takes on the responsibility of making sure your agreement with the main contractor is completed, but since it doesn’t take responsibility for the work itself, the defaulting company must reimburse the surety. Pro Surety Bond has over 25 years of combined industry experience, so call us even if think a bad credit history will be a hindrance about getting a surety bond.Call 800-314-7003!

Bidding Opportunities in East Cleveland

If you are bidding on public projects for the City of East Cleveland 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 East Cleveland

2079 East Ninth Street Cleveland, OH 44115

Phone: 216.443.7200

Map to Finance Department

Working Together To Build A 21st Century Community

East Cleveland is a city in Cuyahoga County and it is the 104th largest city in the State of Ohio. The site that would become East Cleveland was settled by Scottish immigrants, and fact which is still borne by many of the street names like Shaw and McIlrath. East Cleveland is home to Nela Park, generally considered the first industrial park and was originally owned by General electric. Today East Cleveland is known for being the home of Standard Oil founder J D Rockefeller, and he was born on a portion of Euclid Avenue known as Millionaires Row at that time.

What is a general agreement of indemnity (GIA)? When you take out a regular insurance policy, you are making the insurance company responsible for indemnities. This is not the case with surety bonds, and this is perhaps the most striking feature that distinguishes surety bonds from insurance. When someone buys a surety bond, they have to sign a GIA, which states that the surety will not be held liable for claims, loss, costs or expenses related to claims.  Call the East Cleveland Surety Bond Pros Today at 800-314-7003!

What is a collateral security provision? The collateral security provision is a provision in the GIA that allows the surety to demand collateral from the principal (the party that bought the bond) to secure the surety from liability. This means that if a valid claim is paid, the surety has to right to get deposit collateral in an amount that will be sufficient to cover the surety against the claim. If the principal does not pony up the collateral, the GIA will have been breached. Anyone who buys a surety bond should be aware of this provision and its potential effect.

Same Day Quotes For East Cleveland Surety Bonds

What are offsite improvement bonds? Off site improvement bonds, also known as subdivision bonds among other things, are required of subdivision constructors, and they cover the government against poor work done when a contractor builds infrastructure for a subdivision. Subdivision contractors are responsible for the infrastructure that feeds the subdivision, but the government is the party that will be maintaining it when it’s done, and the government wants a guarantee that that work will be done according to code. 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.