Contact Pro Surety Bond for the fastest quotes on your next surety bond. 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 for the "surest" bond assistance. Our agents are knowledgeable and are willing to offer guidance. Call the Salem Surety Bond Pros at 800-314-7003!
Call 800-314-7003! What is a surety bond? A surety bond is like a security deposit, except no money is literally deposited. How does that work? Just like a security you put down on an apartment, it’s there to allow a landlord to collect damages from you without having to sue you. Similarly, surety bonds allow someone to collect damages from you, except the surety is the party that comes up with the money. For instance, if you own a business that collects sales tax for the department of revenue, the department wants a guarantee, or security deposit, that will be able to collect their tax receipts. You could put up your own money, but that would hurt your liquid assets. Instead you can buy a surety bond, backed by the financial reputation of the surety. The department of revenue will accept that instead of a security deposit. Note that although the surety pays the claim, it is not ultimately responsible for the claim itself. Rather, the surety is there to make sure that your agreement with the government is satisfied. The surety must be reimbursed for the claim. Pro Surety Bond has over 25 years of combined industry experience. Call even if you are concerned that you will have to pay too much for a surety bond with your poor credit history. Call 800-314-7003!
If you are bidding on public projects for the City of Salem 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.
231 S. Broadway Avenue Salem Ohio 44460
Phone: (330) 332-4241
Salem is a city in Columbiana County and it is the 146th most populous city in the state of Ohio. Salem was named after Jerusalem, presumably because of the influence of the Religious Society of Friends, aka the Quakers, who were early settlers. Salem was active in the abolitionist movement, with Salem, Ohio being one of the stops on the Underground Railroad. Many of the homes which served as “stations” are still preserved, though none are open to the public. Today Salem, Ohio is known for being disc jockey Alan Freed grew up. It was when he worked at a Cleveland radio station that he coined the term rock and roll.
How do letters of credit stack up against surety bonds? Letters of credit behave similarly to surety bonds: you owe a commitment, and if you don’t follow through a claim can be made against your risk management instrument. Letters of credit are issued through banks, who are not in the risk management business, keep in mind. Letters of credit operate differently behind the scenes though. One important difference between letters of credit and surety bonds is in the claim process. If a claim is made against a surety bond, the surety must investigate the claim to establish that it is valid. No such luck with letters of credit. Banks will pay out a claim with only certain requisite paperwork, as opposed to a claim of default. If you have a beef with that, see you in court. Call the Salem Surety Bond Pros Today at 800-314-7003!
One important idea related to letters of credit—and one that makes them weaker in relation to surety bonds--is that the relationship of the bank to the beneficiary is independent of the actual terms of the contract. Put less elegantly this means that the bank doesn’t give a tinker’s cuss to the terms of the contract; they will pay a claim as long if a claim is made (with a few requisite documents). This of course opens the field wide open to fraud, with the bank in no way assisting you. With a surety bond, the surety must investigate each claim to verify that it is valid.
What are commercial surety bonds? Commercial surety bonds are a wide category of surety bond that pertain to business requirements. For instance, there are business service bonds, which guarantee that your clients are protected if you own a business that sends its employees to another place of business (like a janitorial business). There are alcohol tax bonds, which guarantee the government that it will be able to collect liquor taxes you have collected through sales in your business. Give us a call at 800-314-7003
713 E. State Street Salem OH 44460Phone: (330) 337-3473
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.
|Salem Lottery Bond||Salem Non Resident Cost Bond|
|Salem Telemarketer Bond||Salem Wage and Welfare Bond|
|Salem Material Bond||Salem Process Server Bond|
|Salem Insurance Broker Bond||Salem Performance Bond|
|Salem Race & Sports Book Bond||Salem Janitorial Service Bond|
|Salem Labor Bond||Salem Executor Bond|
|Salem DMV Driving School Bond||Salem Sheriffs Indemnity Bond|
|Salem ERISA Bond||Salem Contractor’s License Bond|
|Salem Third Party Administrator Bond||Salem Supply Bond|
|Salem Honesty Bond||Salem Release of Lien Bond|
|Salem DMEPOS (Medicare) Bond||Salem Freight Broker Bond - BMC-84|
|Salem Cost Bond||Salem Pawnbroker Bond|
|Salem Collection Agency Bond||Salem Lost Title Bond|
|Salem Title Agency Bond||Salem Credit Repair Bonds|
|Salem Business Service Bond||Salem Travel Agency Bond|
|Salem Payment Bond||Salem Appraisal Company Bond|
|Salem Bid Bond||Salem Notary Bond|
|Salem Fidelity Bond||Salem Subdivision Bond|
|Salem Injunction Bond||Salem Credit Services Organization Bond|
|Salem Mortgage Broker Bond||Salem Lost Instrument Bond|
|Salem Health Club Bond||Salem Auto Dealer Bond|
|Salem Sales Tax Bond||Salem Appeal Bond|
|Salem Garage Bond||Salem Pharmacy Wholesaler Bond|
|Salem Employee Theft Bond||Salem Used Car Dealer Bond|
|Salem Talent Agency Bond||Salem Lost Deed Bond|
|Salem Auctioneer Bond||Salem Emissions Station Bond|
|Salem Medicaid Provider Bond||Salem Promoter Bond|
|Salem Public Official Bond||Salem Guardianship Bond|
|Salem Utility Bond||Salem Warranty Bond|
|Salem Mortgage Lender Bond||Salem Off Site Improvement Bond|
|Salem Replevin Bond||Salem Supersedeas Bond|
|Salem Home Health Care Bond|