{"id":1111,"date":"2014-09-18T20:13:00","date_gmt":"2014-09-19T01:13:00","guid":{"rendered":"http:\/\/panamsaves.three.zysites.com\/2014\/09\/18\/3-common-surety-bonds\/"},"modified":"2023-09-05T14:40:06","modified_gmt":"2023-09-05T19:40:06","slug":"3-common-surety-bonds","status":"publish","type":"post","link":"https:\/\/www.panamsaves.com\/es\/blog\/3-common-surety-bonds\/","title":{"rendered":"3 Common Surety Bonds"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/panamsaves.three.zysites.com\/wp-content\/uploads\/sites\/70\/2023\/09\/458041361_lady_working_on_computer.jpg\" style=\"width: 240px; height: 137px; float: right; margin-left: 8px;\" alt=\"woman working on computer\" title=\"surety bonds\" loading=\"lazy\" \/>Many people don&rsquo;t know what surety bonds are, let alone the fact that there are many types of surety bonds available for purchase. When you hire a contractor, plumber, electrician or anyone else to perform work in your home or place of business, it&rsquo;s beneficial to hire a bonded professional. Why? If that contractor does not complete the work as promised or makes a costly error, the company that issued his or her bond is responsible for any resulting financial losses, including hiring another professional to finish\/fix the job. A surety bond acts as a guarantee that the principal will perform a job according to an agreed-upon contract. Below, we detail three of the most common surety bonds and their sub-categories.<\/p>\n<p><strong>Commercial Surety Bonds<\/strong><\/p>\n<ul>\n<li>License bond: Ensures that the bonded individual or business will obtain any required licenses or permits to meet city, county or state laws.<\/li>\n<li>Sales tax bond: Ensures that the bonded business will transfer all collected sales tax to the state government.<\/li>\n<li>Auto dealer bond: Ensures that a motor vehicle dealer is licensed and therefore legally qualified to sell vehicles for profit.<\/li>\n<\/ul>\n<p><strong>Contract Surety Bonds<\/strong><\/p>\n<ul>\n<li>Payment bond: Often issued with performance bonds, this ensures the payment of suppliers and sub-contractors for their contributions to the bonded project.<\/li>\n<li>Bid bond: Ensures that the bonded contractor who is awarded a project after placing a bid will post a performance bond and begin work on the project in a timely manner.<\/li>\n<li>Performance bond: Ensures that if a bonded individual or business doesn&rsquo;t perform, the client can receive compensation for monetary loss.<\/li>\n<\/ul>\n<p><strong>Fidelity Surety Bonds<\/strong><\/p>\n<ul>\n<li>This ensures an employer&rsquo;s protection from dishonest and\/or fraudulent employees, including acts of theft and embezzlement.<\/li>\n<\/ul>\n<p>We&rsquo;re happy to explain bonds in further detail. Call <strong>Pan American Insurance<\/strong> at <strong>(915) 562-0009<\/strong> for more information on <a href=\"\/bond\/bond_request.aspx\">El Paso surety bonds.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many people don&rsquo;t know what surety bonds are, let alone the fact that there are many types of surety bonds available for purchase. When you hire a contractor, plumber, electrician or anyone else to perform work in your home or place of business, it&rsquo;s beneficial to hire a bonded professional. Why? If that contractor does [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":1112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"0","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_analytify_skip_tracking":false,"footnotes":""},"categories":[1],"tags":[30,75,36,77,199],"class_list":["post-1111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-bonds","tag-el-paso","tag-surety-bonds","tag-texas","tag-tips"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/posts\/1111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/comments?post=1111"}],"version-history":[{"count":0,"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/posts\/1111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/media\/1112"}],"wp:attachment":[{"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/media?parent=1111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/categories?post=1111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panamsaves.com\/es\/wp-json\/wp\/v2\/tags?post=1111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}