Community Insurance Center, a division of Inner-City Underwriting Agency has underwriting authority and the ability to issues commercial surety bonds in its office for Travelers, Hartford, CNA and Philadelphia Insurance Companies. Most bonds are issued within the same day of the request. Commercial Surety Bond is an umbrella category of bonds that includes License and Permit bonds, Court Bonds, Public Official Bonds, Business Service Bonds and much much more.
Before you are granted a license or permit for a personal or business activity, you may be required by Federal, State, or local governmental authority to provide a bond.
Miscellaneous Surety Bonds do not clearly fall within the scope of the other bond classes. Some of these bonds are required by law while others may be required of private parties and used to facilitate business transactions. There are so many unique bonds in this class. Each one is underwritten on a case-by-case basis.
Because the responsibilities of a Public Official are considered serious, many are required to take a public oath of office and a surety bond in order to qualify for office. The bond guarantees that the Public Official will faithfully perform the duties of the office.
The Business Services Surety Bond addresses acts of theft by the principal or principal’s employees while performing services for others. Businesses such as janitorial services and home health workers are just two of the types of operations that can benefit from being “bonded”.
• Guarantees an honest accounting and faithful performance of duties by administrators, trustees, guardians, executors, and other fiduciaries.
• A bond filed with a court by a party against whom a judgment has been rendered, in order to stay execution of the judgment pending appeal to a higher court. The bond guarantees that the judgment will be satisfied if determined to be correct.
• Where personal property has been replevied, the defendant or plaintiff may be required to furnish a bond to guarantee property will be available if ordered to do so, or otherwise comply with a court order or judgment.
• A bond administrators, executors, guardians, committees, etc, are required to provide guaranteeing faithful performance of their duty in accordance with the laws applicable to the position.