Protect your next project with surety bonding.
At Kimeo Smith Agency, one of the many insurance services we offer is surety bonding. Surety bonds are a way to provide financial security for businesses and businesses that need to fulfill a specific contractual or legal obligation. A surety bond is a three-party agreement that includes the principal, the obligee, and the surety (us, the insurance agency).
Here is a closer look at the parties involved with surety bonding:
- Principal—This is the person or individual who needs the bond. In many cases, this is either a contractor or a service provider.
- Obligee—This is the party that requires the bond. In most cases, it will be the project owner who wants to make sure that the principal will meet their contractual obligations.
- Surety—Our role as the surety is to guarantee that the principal will fulfill their obligations. If the principal defaults, we will compensate the obligee up to the bond amount.
Surety bonding is commonly required in industries like construction, licensing, and court proceedings. For example, in construction, a contractor might need a performance bond to guarantee that the project will be completed as agreed.
If you are looking for surety bonding solutions here in the Antioch, Tennessee area, we are here to support you as the principal. To learn more about how surety bonding works or to secure a surety bond through us, reach out to us today.
At Kimeo Smith Agency, we offer surety bonding services to those in Clarksville, Antioch, Nashville, Brentwood, Cedar Hill, Cumberland City, Erin, Franklin, Gallatin, Goodlettsville, Hendersonville, Indian Mound, Murfreesboro, Mount Juliet, Nolensville, Smyrna, and Woodhaven, Tennessee.