For example, with license and permit surety bonds the principal is typically the party applying for a specific license or permit required to operate their business, such as a mortgage broker, insurance agent, auto dealer, contractor or health club owner. The obligee is the party granting that license or permit to the principal. The bond is the financial agreement that the principal will operate their business according to the laws and regulations for that particular industry within that state.
Alpha Surety is a nationwide surety bond broker offering all types of surety bonding. Complete our surety bond application to apply for a surety bond now. Or, for a free consultation about your surety bonding needs, please call 510-435-8425 or contact us.