Performance Bond	Surety Bond	Notary Bonds	Public Official	License & Permit	Court Bonds
A bond is an insturment issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that the obligations are not met, the third party will recover its losses via the bond.

Bonds

Performance Bond: a bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes

Surety Bond: is a contract among at least three parties: * The principal - the primary party who will be performing a contractual obligation * The obligee - the party who is the recipient of the obligation, and * The surety - who ensures that the principal's obligations will be performed

Notary Bond: Guarantee that the Notary Public will faithfully perform the duties as prescribed by the laws intheir jurisdiction. Similar to other Public Official bonds, they protect the public from the Notary not performing their duties faithfully.Safeco provides Notary Bond coverage in all states which require notaries to be bonded. We have competitive rates and state of the art platform which allows our agents to execute the bonds without completing an application. Errors and Omissions (E&O) coverage is also available

Public Offical Bond:Most Public Official bonds are required by law and are generally conditioned to guarantee a public officer’s faithful performance of duty. The Public Official bond is for the protections of the taxpayers and the penalty or amount of the bond should be adequate to protect their interest. There is no overall rule determining the amount of each Public Official bond. Some states require bonds in an amount of 100% of all public funds handled by officials, especially tax collectors. The term of a Public Official bond is generally coextensive with the Official’s term of office and the bond usually remains in force throughout the term, or until a successor is elected / appointed.

Examples of bonds we can provide include but are not limited to the following:
Contract Postal Unit bonds
Court Clerks
Dog Catchers
Hunting & Fishing bond
Individual Public Official
Judges
Mayors
Notary Public bonds
Officers of the Law
Public Official Name Schedule
Public Official Position Schedule
Tax Collectors
Treasurers

License and Permit Bond: Most businesses require permission from a governmental body to start and continue in business. Many permits are granted only after the individual or corporation has posted a bond guaranteeing that the laws, ordinances or regulations relating to that business will be complied. License & Permit bonds fulfill this need. The demand for License & Permit bonds is created by public interest requirements. They put teeth into the laws, ordinances, and regulations that have been adopted for the protection of the public

Court Bonds: Court bonds are required of parties to a lawsuit who seek remedies that the law allows only upon posting a bond. They protect a party in litigation from possible loss suffered as a result of the courts’ granting a privilege to the other party.

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