The Mahoney Group has helped companies thousands of clients in securing the surety bonds they need to help them grow their business. Our seasoned surety team helps you navigate the entire, often-complex surety terrain.
You may need a surety bond to meet requirements on government contracts if you run a construction company. Other businesses, like auto dealerships and liquor stores, also need surety bonds to comply with licensing and permitting laws.
Under a bond contract, one party (the surety) guarantees the performance of certain obligations of a second party (the principal) to a third party (the obligee). For example, most construction contractors must provide the party for which they are performing operations with a bond that guarantees they will complete the project by the specified date in the construction contract, in accordance with all plans and specifications. We can help you with:
- Performance Bonds
- Contract Bid Bonds
- License & Permit Bonds
- Notary Bonds
- Fiduciary Bonds
Bond Insurance Explained
A surety is not an insurance policy. The payment made to the surety company is paying for the bond, but the principal is still liable for the debt.
The surety is only required to relieve the obligee of the time and resources that will be used to recover any loss or damage from a principal. The claim amount is still retrieved from the principal through either collateral posted by the principal or through other means.
The Mahoney Group Core Values
We serve our employees, clients and business partners with a servant's heart.
We deliver solutions that bring value and protection to the clients we serve.
We are accountable to each other, our clients and business partners. You can rely on us to always do the right thing.