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Commercial Bonds

Commercial Insurance Bonds in Las Vegas from Valley Insurance Group

Commercial insurance bonds don’t need to be confusing or difficult. Valley Insurance Group can handle the work.

Commercial Bonds Las VegasA Surety Bond is a basic term that describes a bond. Surety bonds are underwritten differently than insurance even though they are sometimes mistaken for insurance, when in fact a surety bonds are different.

A Surety Bond is essentially a guarantee. What exactly the bond guarantees depends on what language is written in the bond. With surety bonds there are always 3 parties involved.

The 3 parties involved are:

  • The Principal – the primary business entity who will be performing a contractual obligation.
  • The Oblige – the party who is the recipient of the obligation.
  • The Surety – who ensures, guarantees the principal’s obligations will be performed. Sureties are similar to insurance companies.

This agreement says that the Surety agrees to uphold – for the benefit of the oblige – the contractual obligations made by the principal, if the principal shall fail to uphold their agreement with the oblige.  Often consumers require a bond before they will agree to enter a contract with a contractor.

The 2 main categories of Surety Bonds:

  • Contract Surety Bond
  • Commercial Surety Bond

A Nevada Contract Surety Bond guarantees a specific contract. A Nevada Commercial Surety Bond guarantees the terms of the Bond form instead of a contract.

If you would like more information about bonds, please call a licensed professional at Valley Insurance Group at 702-476-8900

Las Vegas Insurance AgentValley Insurance Group

9455 W Russel Rd #130

Las Vegas, NV 89148

(702) 476-8900

https://www.valleyinsurancevegas.com

info@valleyinsurancevegas.com.

Valley Insurance Group was formed to meet the needs of today’s diverse clientele. Being an independent agent allows us the ability to shop multiple insurance companies for the best price. At Valley Insurance Group, we believe there are 3 main factors when considering insurance; price, service and claims handling.

With nearly 30 years of combined experience in the insurance industry, Valley Insurance Group has the knowledge to help our clients make a better decision about their insurance. We like to take the time to sit down with our clients to make sure all questions are answered and that they are covered correctly in the unfortunate event of a claim.

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Las Vegas Insurance AgentValley Insurance Group

9455 W Russel Rd #130

Las Vegas, NV 89148

(702) 476-8900

https://www.valleyinsurancevegas.com

info@valleyinsurancevegas.com

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