What are surety bonds?
A surety bond is often the best way to absolutely guarantee the performance of a service or that a payment is carried out. It’s essentially an agreement between three parties: the surety, the obligee and the principal. The surety company guarantees that the obligee (the entity requiring the bond) perform a service for the principal (you or your business). It may sound confusing, but an agent will be able to explain it to you in detail. Some of the bonds we offer include:
Commercial Surety Bonds
Arkansas Bonded Title
Arkansas Contractors License
Arkansas Motor Vehicle Dealer Bonds
Janitorial Service Bonds
Performance & Payment Bonds
*Construction Projects under $350,000
- FastTrack Application
**Construction Projects over $350,000
- Contractor’s Questionnaire
- Company Year End Financials (Last 3 Years)
- Personal Financial Statement (All Owners)
- Bank Reference Letter
- Resumes on all Owners and Key People
- Current Work on Hand
- Three References (from Owners, General Contractors, Subcontractors)
- Last 3 years Federal Tax Returns (Company and Personal)
- General Indemnity Agreement Information Request
- Copy of Bank Line of Credit Agreement (if established)
- Current Certificate of Insurance
- Complete and Sign Credit Release Form (included in Contractor’s Questionnaire mentioned above)
We help customers understand what they’re buying
Words like “Employee Retirement Income Security Act” are pretty confusing, especially to someone who isn’t familiar with bonds. But if you need a bond and aren’t sure where to turn, don’t worry, we have a talented staff that is ready to listen to your situation and recommend the best option.
You’ve got options
If you decide to purchase a bond with American Safeguard you can be sure that you’re getting services from the some of the best financial institutions the market has to offer. Since we are an independent agency we are able to pick who we work with – and we only work with the best.
We are both a retail agency (promoting our products directly to the consumers), as well as a wholesale agency working with agents to provide high quality surety solutions for their customers. For some agencies, we serve as their bond department, handling all of their Surety Bond needs.
Through our affiliate company Bond America we have the ability to access multiple markets for our customers to insure fast, fair, and competitive bond rates. What this means to our customers is several different options, rates, and opportunities. As more and more contracts are requiring the security of a surety bond we understand that time is of the essence. Let our team of bond experts do the work to provide you with the most competitive edge in the market place.