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National Insurance Company offers
you three main types of bonds designed to meet your particular
needs: Contract
and Construction, Commercial and Fidelity.
A surety bond is a guarantee,
a written agreement. It’s a three-way contract through
which one party (the surety company) must indemnify a beneficiary or obligee (the
party requesting the bond) in case a contractor (the principal)
does not fulfill its obligation.
For example, in a Performance
(Construction) Bond, the insurance company (surety) will pay
the owner (obligee) for the contractor’s
(principal’s) breech of obligation, as stipulated within
the terms and conditions included in the construction contract
and the bond.
In Puerto Rico, surety
bonds issuers are regulated by the Puerto Rico Insurance Commissioner’s Office. Therefore, most bonds
are issued by insurance companies. However, it’s important
to point out that a surety bond is NOT an insurance policy.
Request a bond now
Terms,
conditions & Privacy Policy
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