Home > Surety Bonds By City > Madison, WI

Madison, WI Surety Bonds

Simply call Pro Surety Bond today for the best surety bond customer service in the industry. 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. You can call us right now at 800-314-7003 and speak to a representative immediately. Our representatives are here to answer your questions. Call the Madison Surety Bond Pros at 800-314-7003 !

We Are The Only Madison Surety Bond Provider You Need Call

Call 800-314-7003! What is a surety bond? A surety bond is a guarantee backed by a financial institution that has the reserves set aside precisely when one party makes a commitment to another. So if you collect sales tax the Department of Taxation, the department wants a guarantee from you, and if you don't make your deposit, it wants a fund available from which it can collect fines. You could put up your own money, but that would eat into your working capital which means that your credit will be hurt and a number of other adverse effects will come about for something that will probably never happen (default, that is). On the other hand, if you buy a surety bond, the surety company will put up the money for you if a claim is made against you, as long as it's valid. This paid claim amounts to a short-term Loan which has to be paid back. Pro Surety Bond has over 25 years of joint industry experience. Call us even if you think it's questionable that you'll be able to get a surety bond with poor credit.Call 800-314-7003!

Bidding Opportunities in Madison

If you are bidding on public projects for the City of Madison 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 Madison

210 Martin Luther King Junior Boulevard Madison, WI 53703

Phone: (608) 266-4615
Map to Finance Department

The Community of Madison, Wisconsin

Madison is in and the county seat of Dane County, as well as being the capital of the state of Wisconsin, and it's the second most populous community in that state. The city was named after the much-respected James Madison, fourth president of the United States. The name was the idea of James Duane Doty, who purchased about 1,200 acres on the site that would become Madison. When it came time to set up a Wisconsin Territory capital, Dodie labored strenuously for his site. Doty also named 39 of the streets in the city after signers of the US Constitution. The site was chosen in part because it was halfway between Milwaukee, then a growing city, and the Prairie du Chien, which was a lead mining region in southwest, and finally Green Bay to the Northeast.

Madison has a new economic development plan, and it’s called The CONNECT MADISON Strategy. The Strategy came about as a result of a two-year effort that brought hundreds of community members together in a conversation about the future of the city’s economy and its development priorities. CONNECT MADISON has devised five broad strategies designed to build a stronger economy based on economic diversity. Each includes a "Priority 1 Project" that the City commits itself to for five years. All projects and strategies are based on in depth analysis of local economic data which has been examined and reshaped by input from the community. The final outcome is under the helm of the leadership of Madison's Economic Development Committee.  Call the Madison Surety Bond Pros Today at 800-314-7003

Who is the obligee in a surety bond transaction? The obligee is the party that wants the coverage from the other party, which is known as the principal. When the three parties (along with the surety company) enter into a 3-way agreement, the surety promises the obligee that it will pay any valid claim. The only way this works is if the surety commits to paying the claim regardless of any other circumstances, for instance, if the principal has defrauded the surely in some way. If the surety commits to paying a claim, it must pay it. And lest you think the surety might try to weasel out of it, there are regulations which dictate what counts as a valid claim and what does not. And besides, if surety companies got a reputation for trying to weasel out of their commitments, the entire surety bond industry would collapse.

Call The Bedrock Of Reliability For Madison Surety Bonds: Pro Surety Bond

What is the nature of the agreement of the surety and the principal? As mentioned above, the principle is the party that needs to pay for the coverage, with the surety company acting as the guarantor. The principal buys the surety bond so it doesn't have to put up its own money, and if a claim is made against the bond, the surety agrees to put up the money for the principal. Know that we did not say that the surety takes responsibility for the claim. That's because insurance companies don't cover contractual obligations, because the problem of moral hazard plays a large role in contractual obligations. Give us a call at 800-314-7003.

Related Links:

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.