Give me a B
Give me an O
Give me a N
Give me a D
What does that spell?
Who needs a BOND?
Let us explain:
Whether you’re a business serving liquor, selling vehicles, or a contractor you may need license and permit bonds to operate your business. Many contractors bidding and working on larger jobs are required to obtain Bid, Performance, and Payment bonds. These bonds are to guarantee their bid, that they will perform the work, and that their suppliers will be paid.
A growing industry in WNY – Wineries and Breweries are required to carry excise bonds to manufacture their products. If you are going to your customers locations, your business should have a fidelity bond to cover potential theft claims of your customers goods. All 401K plan administrators are required by law to carry an ERISA bond to guarantee the funds are being allocated appropriately. All public officials are required to be bonded to guarantee they are faithfully performing their duties of the office.
As we get older a lot of us begin a plan for our future. Part of this is assigning a Guardian or Administrator of our estates. These could also be court appointed. To guarantee the Guardian / Executor are handling the affairs of someone who is not able to themselves a bond would be obtained.
If your business or you as an individual have any bonding needs in the future, please allow our highly educated staff the opportunity to review your needs.