License and Permit Bonds
These bonds guarantee that the principal will follow the terms of the license for which they have filed. They protect the citizens of a city, county or state from damages stemming from the actions of the principal, and require the principal to comply with all laws. They are a prerequisite to the granting of the license or permit. Smith Manus makes the process of obtaining these bonds simple and easy.
There are numerous situations where surety bonds are required to guarantee the performance or obligation of a specific party. Some examples are: replacement of lost securities, performance of public officials, and fiduciary responsibilities of those acting as guardians, administrators, and executors. Bonds are also required in judicial matters where one party undertakes legal action against another.
The number of situations where a surety bond is used to provide a guarantee is endless. In a great many cases one party in a business situation will ask for a performance guarantee from another party requiring the drafting of a bond form to fit the specific agreement. At Smith Manus we take the time to understand the compliance requirements and identify the necessary bond forms to be used in all of these unique situations.