A surety bond is an agreement between three parties
- Bondholder (principal): The entity needing the bond
- Surety: The entity writing and providing the bond
- Obligee: The entity requiring the bondholder obtain the bond
Based on this agreement, the obligee receives a financial guarantee from the surety that the principal will adhere to the terms established by the bond.
Acumen has relationships with multiple sureties and brokers that can facilitate getting bonds quickly and cost effectively. The benefits of having Acumen obtain your bonds it that we will work on your behalf to obtain best possible pricing and we will maintain your bonds. This means we will monitor your bonds renewal due dates, forward them to the obligees on your company’s behalf, handle payment of your bond premiums, and have electronic bonds issued and signed.