LG Hizon Insurance Agency and General Services also offers a Bond service that suite to support small and medium businesses. Protect your business with worries!
A Bond is an agreement among three parties certainly a surety (Surety Company) guarantees the performance by an individual (called the Principal) of an obligation or undertaking in favor of a third party (called Obligee). In short, the surety company undertakes to indemnify the Obligee for whatever loss he might suffer if the Principal fails to comply with his obligations.
Types of Bonds Commonly Issued
For Instance, a contract, or license or privilege is being grant. The grantee assumes certain obligations and is require to perform (or not to perform) certain acts. To guarantee compliance with these undertakings, the grantee is require to give a bond.
- Bidders Bond (One Bid Only)
- Fidelity Bond
- As a result of dishonest acts of the principal, the undertake will reimburse the obligee for loss of money and or other property.
- Performance Bond
- Surety Bond
- Heir’s Bond
For more information about this Bond Insurance, please inquire here. You may also call our Customer Service at 072 603-1130 , email us at or visit any of our office at #697 Ilocanos Norte, San Fernando City, La Union 2500.