Commercial bonds, also known as non-contract, license/permit or miscellaneous surety bonds, are generally required by local or state laws/statues to legally operate a business. A commercial surety bond is not an insurance policy, it is a guarantee, a form of credit. What it guarantees depends on the language in the bond. Commercial surety bonds are not usually difficult to obtain with a little help from Oakland. Oakland Insurance can help get you the right commercial surety bond.
At Oakland Insurance, we specialize in providing both large and small businesses with the following surety and contract bonds:
- Auto Dealer Bond – An auto dealer bond provides a guarantee to the state that the dealer will comply with state laws and regulations.
- Performance Bond – A performance bond guarantees the performance of contractually agreed upon work.
- Bid Bond – A bid bond provides financial protection if a bidder is awarded acontract but fails to sign the contract or provide the required performance and payment bonds.
- Lost Title Bond – If you have lost the title to your vehicle, we an help. The state will require a Lost Title Bond which we can obtain for you as proof that you own the vehicle.
- License Bond –A license bond is a bond guaranteed to a state or federal agency.
- And more…
There are many reasons why commercial surety bonds are required. There are thousands of different types of bonds and a variety of items that may be required to obtain the bond. Oakland Insurance can provide the guidance needed to obtain the required commercial surety bond. Let our expert staff and knowledgeable agents help you make your job easier.
To learn more about your commercial surety or contract bond options, give us a call at 248.647.2500 or fill out the form on this page. You can also visit our Michigan Performance Bonds website to learn more.