A surety bond is defined as a three-party agreement that legally binds together a principal who needs the bond, an obligee who requires the bond and a surety company that sells the bond. In New York, there are many different Surety Bonds depending on your industry. However, when it comes to Construction Surety Bond types, this list is truly endless. When selecting the bond for you, there are options to choose from such as, but not limited to, Bid Bonds, Contractor License Bonds, Maintenance Bonds, Payment Bonds, Performance Bonds, Site Improvement Bonds, Subdivision Bonds, Supplier Bonds and more.
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