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Here at Pinnacle Surety, we’re delighted to announce that we’ve won the 2018 Surety Agent of the Year Award! This award was handed out by the United Fire Group Insurance Company as part of their annual awards ceremony.
We take this award very seriously as we had to beat out numerous competitors to win it. As a company that’s been operating for over 25 years and offering a variety of surety bond solutions, we’re overjoyed that our expertise in this field has been recognized. We pride ourselves on being able to build successful relationships with all of our clients and the surety companies we work with. In doing so, we believe we’ve created a service that targets long-term success above everything else.
Pinnacle Surety Is An Award Winning Surety Insurance Company
With this award hanging up on the wall of our office, we hope it gives prospective and existing clients more confidence in choosing us as their surety insurance company. After all, when you win an award, it’s a show of how well-respected you are in the industry, and how excellent your service is. Our existing clients can be safe in the knowledge that they’re in secure hands, while prospective ones can look at us as a company with all the solutions they need.
Part of the reason we won this award was down to the lengthy services we offer our clients. As surety bond specialists, we want to ensure that everything is covered. As such, we provide the following services to help with your every need:
Of course, we know everything there is to know about surety bonds, and it’s our job to make them as straightforward for you to understand as possible. Essentially, a surety bond is a binding contract between three different parties. There’s an Obligee, who is the beneficiary to the bond. A Principal, who is required to carry out a specific obligation. Finally, there’s the Surety, the person or entity that must pay money or carry out an obligation if someone else can’t do it or fails to act on their contractual obligations.
There are many classifications of surety bond out there, and our company handles the following:
The primary purpose of our court bonds is to offer protection against the loss of money during court proceedings. There are loads of different types of court bonds that we regularly deal with, and the most common of which is an appeal bond. This surety bond is for appellants that want to delay the outcome of a judgment. There are also things known as attachment bonds, court cost bonds, injunction bonds, and so much more. If you want to learn more about court bonds and the service we offer, then take a look at the Court Bonds section on our site.
These bonds are often referred to as performance bonds, completion bonds, or site improvement bonds. In essence, they’re all to do with real estate improvements. Subdivision bonds ensure that land improvements are no longer the financial burden of the public entity. Instead, the responsibility lands on the shoulders of the owner of the property, or the body developing it. Once the improvements have been completed, the ownership is then given back to the governing public entity. It aims to protect public entities from developers or landowners not completing specific improvement projects that they’ve been contractually obliged to complete. You may also hear these referred to as construction bonds when they’re used specifically within the construction industry, and some people refer to them as developer bonds or maintenance bonds as well. To learn more, head to the Subdivision Bonds section of our site.
License Bonds/Permit Bonds
There are plenty of different license bonds or permit bonds out there that businesses need to be made aware of. The whole idea of these bonds is that they offer protection for the governing agency and general public against anything wrong that the bonded company does. They make absolutely sure that the principal to the bond acts according to all applicable laws and regulations revolving around the activities they’re caught up in. Essentially, this helps prevent fraud, theft, and many other adverse actions.
Lastly, we’ve made a name for ourselves as a leading provider of various contract bonds. This type of bond will ensure that the terms of a specific contract are fulfilled. If they’re not, then a claim can be made against the bond to regain any financial losses. We deal with three types of contract bonds; bid bonds, performance bonds, and payment bonds.
Bid bonds revolve around ensuring bidders of projects will actually enter into the contract if they win the bid and are awarded the job. Performance bonds are commonly found in the construction industry and focus on ensuring that the contract is carried out and that all terms and conditions are met and abided by. It also guarantees that the project is completed within a certain period at a set fee. Finally, payment bonds are there to ensure that project owners don’t have to pay any subcontractors or cough up additional fees for materials. Under these bonds, the contractor agrees that they will pay all these extra costs.
Typically, these three contract bonds are all used in conjunction with one another. To learn more, see the Contract Bonds page on our site.
Surety Agents That Handle Everything For You
At Pinnacle Surety, we’re a company that aims to handle all the complexities of surety bonds for you. We break down all of our respective services and explain what we do for you in simple terms that are easy for anyone to understand. This is what led to us being named the 2018 Surety Agency of the Year; we take our clients needs very seriously. We could easily sit back and just do our job without explaining anything to you, but we prefer to provide clarity in everything we do. As such, we’ve been able to develop such fantastic working relationships with our clients over the years.
If you’re interested in working with an award-winning surety agency, then feel free to get in touch with us today to talk about our services.