We Specialize in Contractor Surety Bonds
A surety bond provides a guarantee that a contractor will complete the work it has agreed to. It ensures that the work is done to the satisfaction of the customer, within the agreed upon time frame.
If a customer is unhappy with a contractor’s work, a claim can be filed with the surety bond company for payment of a settlement or for completion of the work by another contractor.
Who Needs a Surety Bond?
Contractors obtain surety bonds from a surety company. If the contractor defaults on its work agreement, the surety company is obligated to find another contractor to complete the contract or compensate the project owner for any financial loss.
Contractors are often required to purchase surety bonds if they are working on public projects. In addition, contractors often need surety or performance bonds to win projects. Surety bonds assure customers that the work will be completed exactly as described in the bid, and if there is a problem the customer will be compensated.
Sub-contractors and suppliers of construction materials also often obtain surety bonds before entering in to an agreement to work on a job with the original contractor.
Contact Financial Assurance for Louisiana Surety Bonds
Financial Assurance has experience in securing surety bonds for all kinds of contractors. We work with a variety of surety companies so we can be sure to find the right product to help you protect your business. If you are unable to complete a project to a customer’s satisfaction, a surety bond will protect you from that customer’s claims against you.
Contact us today to inquire about surety bonds in Metairie, New Orleans, Baton Rouge, Hammond, St. Tammany and throughout Southeast Louisiana.