The Upside? We obtain pre-approved bond programs from our sureties and give you the upfront knowledge of what job and program limits they have available. Gunn-Mowery also has the authority to execute bonds within approved parameters. Whether your bond needs are domestic or international, large or small, we welcome the opportunity to be of service to you.
Types of Bonds:
Bid Bond: A bond that guarantees that if a contractor’s bid is accepted, the contractor will enter into a contract and provide the required performance and/or payment bond.
Performance Bond: A Bond that guarantees to the owner, or oblige, that the contractor with the winning bid on a job will complete the contract, as per the contract specifications.
Labor & Material Payment Bond: A bond that guarantees that the contractor will make appropriate payments to subcontractors and material suppliers.
License & Permit Bonds: Bonds that are sometimes required in connection with issuance’s of licenses by government agencies. They guarantee that the person who posts the bond will comply with all applicable laws pertaining to their activities.
Fidelity & Court Bonds: Bonds that are used to manage risk and protect against damage or loss in commercial transactions. An example of this type of bond is a Probate Bond, which is purchased by the will executor to ensure that the wishes of the deceased as expressed in the will are carried out ethically and honestly.
Miscellaneous Bonds: Bonds that represent a diverse, broad group of surety obligations that do not fall within other classifications.
Do You Need Contract Surety Bonds?
A contract surety bond is especially useful in construction and related industries. Contract surety bonds are typically designed to satisfy obligations, such as governmental legislation obligations, contractual obligations, and fiduciary obligations. These bonds can help protect businesses in a number of ways.
Bid bonds, for example, ensure that if a contractor’s bid is accepted, the contractor will provide the required results and will enter into the contract. A performance bond is another type of contract surety bond and ensures that the contractor who wins the bid for a job will complete the contract to all specifications.
A labor and material payment bond guarantees subcontractors are paid by contractors in an appropriate way, as are material suppliers.
Do You Need Commercial Surety Bonds?
Commercial surety bonds manage risk and guarantee obligations will be met. Often used in construction-related industries, manufacturing, and other sectors, commercial surety bonds include license and permit bonds, fidelity and miscellaneous bonds. License and permit bonds guarantee compliance with specific laws. Sometimes, licenses issued by government agencies mean these types of bonds are required. Fidelity bonds, on the other hand, can help a business protect itself against loss and damage. Miscellaneous bonds can guarantee obligations, in general, are met. These can be developed to address specific needs in a project.
No matter what kind of bonds you need, contact Gunn-Mowery, LLC. We have four offices as well as team members who are dedicated to helping you secure bonds and get the financial services and insurance you need. If you need bonds, contact us to find out how we can help.
‐ Kathleen Misturak-Gingrich, Esquire
Gunn-Mowery Construction and Bond Affiliations: