Surety bonds in Portland, Oregon and the Pacific Northwest.

A surety bond is a great way to guarantee that a large investment in a project is not lost—whether or not the work gets done. These are especially common in the construction industry, and is often utilized for government contracts.

A surety bond is a contract that one person or organization pays for, while another receives the benefit.

The contractor pays a premium to an insurer to purchase the surety bond. The insurer then pays the necessary compensation to the agency if the contractor fails to deliver. The big difference between this and ordinary insurance is that the insurer can and will go after the contractor to get this money back. The point of the surety bond is that the agency gets the assurance that it won’t have to chase after the money itself.

If there’s anything else you need to know about surety bonds, contact us today.

Let’s discuss your surety bonds.

One of our insurance advisors will reach out to you to review your information and present you with the appropriate surety bonds solution. There’s no obligation, just good-old-fashioned advice.
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Leonard Adams Insurance offers comprehensive surety bonds in Portland, Oregon and the Pacific Northwest.