Surety Bonds, made simple.

Payment and performance bonds guarantee a contractor will complete a project per contract terms and pay subcontractors and suppliers.

A performance bond guarantees that a contractor will complete a project on the terms of the contract. If the contractor defaults, the obligee can call the bond and the surety arranges completion or pays the loss up to the bond amount.

A bid bond guarantees that a contractor who wins a bid will sign the contract and post the required performance and payment bonds. If the winning bidder backs out, the obligee can recover the difference up to the bond amount.

Construction bonds cover bid, performance, payment, maintenance, and supply guarantees for builders working on public and private jobs.

Remittance bonds guarantee that a party collecting funds on behalf of a state or municipality will remit them on the schedule the obligee requires.

Subdivision bonds, also called site improvement or plat bonds, guarantee that a developer will complete the public improvements a city or county requires before it accepts a new subdivision.

ERISA fidelity bonds protect employee benefit plans against losses from fraud or dishonesty by anyone who handles plan funds or property.

Business services fidelity bonds (also called employee dishonesty or commercial crime bonds) protect a business against theft by its own employees.

Blanket fidelity bonds cover all employees in a class (or all employees of a company) under a single bond, instead of naming individuals.

Employee dishonesty bonds reimburse a business for direct losses from employee theft of money, securities, or other property.

Mortgage banker bonds are NMLS-filed Electronic Surety Bonds (ESBs) required of companies that originate and fund residential mortgage loans with their own capital.

Mortgage broker bonds (NMLS ESB) cover companies that arrange residential mortgage financing without lending their own funds.

Mortgage lender bonds (NMLS ESB) are required of entities that fund residential mortgage loans, regardless of whether they retain servicing.

Mortgage loan originator (MLO) bonds are individual ESBs required of independent MLOs in states that require coverage at the individual licensee level.

Mortgage servicer bonds (NMLS ESB) cover companies that collect payments, manage escrow, and administer residential mortgage loans.

Lender bonds are the surety bonds state regulators require of licensed consumer lenders. The bond guarantees that a lender will follow state lending law and deal fairly with borrowers, and it is the hub for the specific lending license bonds below.

Installment loan lender bonds are the surety bonds states require of companies licensed to make consumer installment loans. The bond guarantees the lender will follow state installment lending law and treat borrowers fairly.

Small loan lender bonds, sometimes called consumer loan bonds, are the surety bonds states require of companies licensed to make small-dollar consumer loans. The bond backstops the lender's compliance with state small-loan law.

Payday lender bonds, also called deferred deposit or short-term lender bonds, are the surety bonds states require of licensed payday and short-term lenders. The bond guarantees compliance with the state's deferred deposit law and protects borrowers.

Supervised lender bonds are the surety bonds required in states that license higher-rate consumer lending under a supervised loan or supervised lender statute. The bond guarantees the lender follows that state's supervised lending law.

Consumer discount company bonds are the surety bonds required of lenders licensed under a state consumer discount company act, a license type used in several states for consumer installment lending. The bond backstops compliance with that act.

Sales finance company bonds are the surety bonds states require of companies licensed to buy and hold retail installment contracts, such as auto or retail purchase financing. The bond guarantees compliance with the state's sales finance law.

Student loan servicer bonds are the surety bonds a growing number of states require of companies licensed to service student loans. The bond guarantees the servicer will follow the state's student loan servicing law and handle borrower accounts properly.

Money lender bonds are the surety bonds some states require of companies licensed to lend money to consumers under a money lender or money lending statute. The bond backstops the lender's compliance with that state's lending law.

Insurance adjuster bonds guarantee that a licensed adjuster will follow state insurance law in adjusting claims.

Public official bonds guarantee that an elected or appointed public official will faithfully perform the duties of the office.

Private bonds are commercial surety bonds posted to satisfy a private party (not a government obligee), such as a landlord, franchisor, or counterparty.

Court bonds (judicial and probate) guarantee performance of an obligation imposed by a court, such as an appeal, injunction, or fiduciary appointment.

Debt collector bonds guarantee that a licensed collection agency will follow state collection law and remit collected funds to clients.

Credit service organization (CSO) bonds guarantee that a CSO will perform contracted services and return prepaid fees if it fails to do so.

The money transmitter bond is the surety bond posted as a condition of an MSB or money transmitter license. It is the bond that backstops a transmitter's obligations to consumers and the state. It is NOT the same as the money transmitter license itself, which Cornerstone Licensing handles on the Licensing side.

Notary bonds protect the public against errors or misconduct by a commissioned notary public. Required to obtain or renew a notary commission in most states.

Motor vehicle dealer bonds, also called auto dealer bonds, guarantee that a licensed dealer will follow state motor vehicle law and deal honestly with buyers, lenders, and the motor vehicle department.

The freight broker bond, filed on form BMC-84, is the surety bond the Federal Motor Carrier Safety Administration requires of licensed property brokers and freight forwarders. It guarantees that the broker will pay carriers and shippers as agreed.

Auctioneer bonds guarantee that a licensed auctioneer or auction company will follow state auction law and handle sale proceeds honestly for sellers and buyers.

A contractor license bond is the license bond a state or local government requires to issue a contractor license. It guarantees that the contractor will follow the licensing law and the building code, and it is separate from the project performance bonds a contractor posts on individual jobs.