Bond Insurance

Surety Bonds are typically required by a general contractor, project owner, or the state or Federal Government.  Bonds are NOT insurance; rather, bonds back up the contractual obligations made by the insured principal person or business.   Most bonds are either a type of License and Permit Bond, or Labor and Materials Payment and Performance Bond. The obligee is the entity that requires the bond. Obligees are typically government agencies working to regulate industries and reduce the likelihood of financial loss. The surety is the insurance company that backs the bond. The surety provides a line of credit in case the principal fails to fulfill the obligations of the contract and complete the job task. DCI will assist you in acquiring the bond you need; give us a call today.