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Surety Solutions that Make Sense
Here at Valuesure, we specialize in providing small business owners with the surety products they need to run their business. From Notary bonds to Motor Vehicle Dealer bonds, we make it easier than ever to get the bond you need.
Surety Bonds vs. Insurance
Surety Bond Three or more party agreement whereby the surety guarantees the performance of the principal to the obligee
Insurance Two party agreement that bind the insurance company in an agreement to pay the insured for specific losses incurred
Who are the three parties involved in a surety bond?
A bond is a three-way agreement between a Surety, Principal and Obligee. Each member has a distinct role to play within the agreement.
Surety
The Surety’s primary role is to ensure that the Principal will fulfill their contractual obligation to the Obligee.
Principal
The Principal, generally a contractor or the applicant, is the party that has agreed to perform set activities for the Obligee.
Obligee
The third party, the Obligee, is the entity requiring the performance of a task.
Contract vs. Commercial Bonds
There are two main types of bonds: contract bonds and commercial bonds
Contract Bonds A bond given to secure the performance of a contract
Commercial Bond Bonds required by city, county, state, federal laws or ordinances as a condition to granting a license and permit to engage in certain bsuiness or particular privlege
Motor Vehicle Dealer Bonds
A motor vehicle dealer bond is a type of commercial bond that guarantees that motor vehicle dealers in Texas adhere to state laws, regulations and licensing requirements.
It serves as a form of financial protection for consumers in case a dealer engages in dishonest or unethical practices.
Notary Bonds
A notary bond protects the public of Texas against any financial loss due to improper conduct by a Texas notary.