CG Bonds Surety

CG Bonds specialise in the procurement of Contract Guarantee (Performance) bonds on behalf of housebuilders and construction companies. CG Bonds were called to market by contractors and subcontractors who need a cost-effective, specialist and responsible performance bond broker. We promise to source and secure the best value performance bonds on the market, whilst using our years of employee experience to make it a completely stress-free and simple process. We combine our technical and construction knowledge, within the surety market, to add value to our clients.

CG Bonds Surety

What is the surety bond method?

A surety bond is a contract between three parties—the principal (you), the surety (us) and the obligee (the entity requiring the bond)—in which the surety financially guarantees to an obligee that the principal will act in accordance with the terms established by the bond.

What is a customs surety bond?

A customs bond is a specific type of surety bond that is required of individuals who are importing merchandise into the United States. The purpose of the bond is to ensure that the importer pays all taxes, fees and duties in a timely manner.

How are surety bonds calculated?

Surety bond premiums (the amount you pay) are often calculated as a percentage of the total bond amount, usually between 0.5% and 5% of the bond amount for applicants with good credit, and between 5% up to as much as 20% of the bond amount for applicants with poor credit.

What is an example of a surety bond?

A popular example from the license bonds category is that of auto dealer bonds. These bonds are required in virutally every state before a dealership can get licensed and be allowed to legally operate in the state.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *