Contract Surety Bonds Include:

Bid Bonds
Financial assurance that the bid has been submitted in good faith, and that the contractor intends to enter into the contract at the price bid and provide the required performance and payment bonds.

Performance Bonds
Protect the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions.

Payment Bonds
Guarantee that the contractor will pay certain subcontractors, laborers and material suppliers associated with the project.

Maintenance Bonds
Guarantee against defective workmanship or materials for a specified period.

Subdivision Bonds
Guarantee to a city, county or state that the principal will finance and construct certain improvements such as streets, sidewalks, curbs, gutters, sewers and drainage systems.
Common Sense Underwriting
Ianniello Agency has a deep understanding of underwriting considerations and one thing is clear: no two accounts are alike. We review each case on its own merits and do not use inflexible formulas. We look at the whole picture:
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- Corporate Net Worth
- Pay Record
- Personal Net Worth - Character Counts
- Bank Relationships
- References
We look beyond the financials and embrace the value of business and personal integrity!

Frequently asked questions:
A surety bond is an agreement in which the surety company guarantees the principal will fulfill a commitment made to the obligee.
A contract bond usually consists of a performance and payment bond. The performance bond guarantees the principal will complete the job to the specifications made in the contract between the principal and obligee. The payment bond holds the principal responsible for paying certain subcontractors, laborers, and suppliers associated with the job.
A bid bond is a financial assurance that a bid has been submitted in good faith and the contractor will enter into a written contract.
- Net worth underwriters
- Clean, personal credit reports. Some Commercial Surety bonds are written solely based on a clean credit report.
- Every case is underwritten on its own merit.
- Properly completed commercial bond application
- Copy of Court papers
- Financial statement
- Clean credit reports
- Some of the court bonds will require cash collateral
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- Cost Appeal/Supersedeas
- Attachment
- Replevin
- Sheriff Indemnity
- Lien
- Release of Lien
- Receiver
- Injunction
- Properly completed commercial bond application
- Copy of Court papers relating to the case
- Clean personal credit reports
- Financial information
- Guardianships/
- Conservatorships of Incapacitated Person
- Guardianships/Conservatorships of Minors (joint control usually required)
- Trustees
- Referees
- Administrators
- Executors
- Receiver