Pro Surety Bond Exists to Be Your Surety Bonding 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. Find your phone and call us at 800-314-7003 to get the best in bonds and customer service. We have agents on staff right now who are ready to take your call.Call the Wayne Surety Bond Pros at 800-314-7003 !
Call 800-314-7003! What is a surety bond? A surety bond financially "encourages" one party to fulfill an obligation it is made to another party. Let's say you run a SAG talent agency. The talent agency is a business that has drawn a few bad apples in the past and the government wants to filter out those parties. One of the reasons they make you pay make it by a surety bond is psychological: if you know that you're going to lose money if a claim is made against you, you’re going to be more likely to do business honestly. From the surety companies point of view, default on these types of commitments are not particularly common, so it's not much of a risk for them to put up the money for you if there's a claim made. You you should think of a paid claim as a short-term loan and not as insurance, because this money does still have to be paid back. Pro Surety Bond has over 25 years of combined industry experience. Call us even if you don't think you can get a surety bond at a rate you can afford.Call 800-314-7003!
If you are bidding on public projects for the City of Wayne 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.
3355 S Wayne Rd, Wayne, MI 48184
Wayne is a city in Wayne County and it is the 109th most populous community in the State of Michigan. The site that would become Wayne was crossed by the Sauk Trail which meant that the area was visited by both Native American and French fur Traders before any permanent settlement. The site was originally called Johnson's Tavern, after the first settler George M Johnson, who build a small log cabin on the spot in 1824. Today Wayne is known for being a suburb of Detroit, and its long history of automotive and transportation-related manufacturing. It is currently the home of two Ford Motor plants, the Wayne Stamping and Assembly and the Michigan Assembly Lines, collectively known as the Michigan Truck Plant.
What are the relative merits of surety bonds over letters of credit? The relative merits are considerable. Letters of credit are issued by banks, and banks are not in the risk management business, and many people are surprised to find that the bank has absolutely no interest in the terms of the underlying contract that is the basis of the letter of credit. Surety companies have to validate every claim before they pay it, and while sureties do you represent you legally as such, at least you have one factor on your side. Also surety bonds are usually issued without collateral, which means that they do not appear on your ledger sheet as liabilities. With letters of credit, you usually have to put up some kind of collateral (as you would with any large loan), and that decreases your credit score, which can cause problems with the working capital you need to run your business. Call the Wayne Surety Bond Pros Today at 800-314-7003
How does surety bond underwriting work? Surety bond underwriting is a strange beast, at least compared to insurance, because the things surety bonds cover are not covered because of accidents. It's even more complicated when you get to contract bonds. Contract bond coverage can be in the millions of dollars, and because since Surety bonds are a type of credit, you have to vet your company thoroughly. At this level, mistakes can cost, even if the defaulting company has to pay the loan back, which means you need more than a credit check. You need to look at how the company is organized, you need to examine the personal finances of the top personnel, you need to know if there is any plan for succession of key personnel. And that’s just the beginning. It's kind of a strange thing really if you think about it.
I often see the terms "bonded, licensed insured" in advertisements offered by service providers. Can you tell me what those mean? Yes. When a company is licensed it receives an official approval to do business in that industry, and it usually means that they have undergone some kind of education to show that they know what they're doing. As an extra measure the government requires a surety bond as a condition of licensure, so that if that that business does not obey the regulations that have been laid down then the government has a way of collecting fines the business might incur as a result of not obeying the regulations. The bond also has a psychological effect in the respect that you are more likely to do business on the up-and-up if you know you have something that can be forfeited. When an advertisement says that company is insured it means that if that business does something accidentally that causes you to incur damages, then you are covered. The surety bond covers the government. Give us a call at 800-314-7003.
Wayne, MI 48184Phone: 734-721-0100
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.
|Wayne Replevin Bond||Wayne Mortgage Broker Bond|
|Wayne Subdivision Bond||Wayne Insurance Broker Bond|
|Wayne Supersedeas Bond||Wayne Employee Theft Bond|
|Wayne DMV Driving School Bond||Wayne Talent Agency Bond|
|Wayne Off Site Improvement Bond||Wayne Mortgage Lender Bond|
|Wayne Health Club Bond||Wayne Utility Bond|
|Wayne Public Official Bond||Wayne Pawnbroker Bond|
|Wayne DMEPOS (Medicare) Bond||Wayne Pharmacy Wholesaler Bond|
|Wayne Freight Broker Bond - BMC-84||Wayne Supply Bond|
|Wayne Janitorial Service Bond||Wayne Used Car Dealer Bond|
|Wayne Wage and Welfare Bond||Wayne Sales Tax Bond|
|Wayne Auctioneer Bond||Wayne Title Agency Bond|
|Wayne Credit Services Organization Bond||Wayne Lottery Bond|
|Wayne Credit Repair Bonds||Wayne Sheriffs Indemnity Bond|
|Wayne Collection Agency Bond||Wayne Lost Deed Bond|
|Wayne Lost Title Bond||Wayne Promoter Bond|
|Wayne Race & Sports Book Bond||Wayne Payment Bond|
|Wayne Bid Bond||Wayne Medicaid Provider Bond|
|Wayne Travel Agency Bond||Wayne Release of Lien Bond|
|Wayne Honesty Bond||Wayne Contractor’s License Bond|
|Wayne Process Server Bond||Wayne Auto Dealer Bond|
|Wayne Material Bond||Wayne Telemarketer Bond|
|Wayne Notary Bond||Wayne Business Service Bond|
|Wayne ERISA Bond||Wayne Home Health Care Bond|
|Wayne Executor Bond||Wayne Garage Bond|
|Wayne Warranty Bond||Wayne Non Resident Cost Bond|
|Wayne Third Party Administrator Bond||Wayne Fidelity Bond|
|Wayne Appraisal Company Bond||Wayne Labor Bond|
|Wayne Guardianship Bond||Wayne Emissions Station Bond|
|Wayne Injunction Bond||Wayne Cost Bond|
|Wayne Lost Instrument Bond||Wayne Performance Bond|
|Wayne Appeal Bond|