Surety bonds unlike insurance, involves three parties within the contract.
In the three-party agreement, the Surety agrees to fulfil obligations of the Principal (in the case of a default under the bond) to the Obligee. The Surety acts as a guarantor for the Principal, much like a co-signer on a loan in the financial banking industry.
Halpenny Insurance Brokerage specializes in finding Contractors suitable Bonding Facilities solutions to meet their needs. Products offered under a Bonding Facility include: