Commercial surety bonds are widely used in large industries and government entities; from purchasing to selling, commercial surety bonds are used by many different businesses, organizations, and agencies. These bonds enforce a contract between the principal and obligee with additional security provided by the surety bond. The bond essentially guarantees compliance with the law or contractual obligations or protects against losses due to misconduct, errors, or omissions of the principal.

The market for Surety can be broadly divided into two segments-recoverable and non-recoverable bonds. The Recoverable Surety Bonds segment includes bonds such as Contract Surety, Fidelity Bonds, Performance Bonds and Judicial Bonds. In addition to this, the Surety Bail Bond segment is also growing at a healthy pace. The U.S Surety insurance market has been registering a healthy growth since 2009 and this trend is likely to continue in the coming years because of the above mentioned factors and other socio-economic reasons. There are also opportunities to research and study each option to ensure you make the right decision for your circumstances. The process can be daunting, but in the end it will be worth your time. For more detail, please refer to the info-graphic below.