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Payment bonds
Surety Bonds Inc. is Ohio's premier surety bonding agency REPRESENTING OHIO’S FINEST CONTRACTORS SINCE 1978In the case of heavy construction projects and heavy highway projects, the obligee requiring a surety bond is usually a government body, such as a federal, state, or local municipality. The obligee will determine the bond amount, however, a surety company analyzes the risk of the contractor (ability to pay and likelihood of causing a claim) and measures their bonding capacity.
Once a surety company bonds a contractor, the obligee knows that they are insured against a loss.
Typically required in conjunction with performance bonds, payment bonds are contract bonds that guarantee subcontractors and material suppliers all get paid in accordance with the initial bid or contract.
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Contact Surety Bonds Inc.
HOME OFFICE
SURETY BONDS INC.
7540 Sawmill Pkwy., Suite D
Powell, Ohio 43065
Phone: 614-761-2700
Fax: 614-761-8730
BRANCH OFFICE
D&M SURETY
Toledo, Ohio
Phone: (419) 350-2221
Fax: (888) 350-4454

