Telcom Insurance Group offers many types of bonds for your business needs. Some of the typical surety bonds needed for the telecommunications industry include Highway Bonds, Bid Bonds, Performance Bonds, Pole Attachment Bonds, License and Permit Bonds and Notary Bonds, which have errors and omissions coverage.
A surety bond is a legally binding contract under which one party (the surety) guarantees to another party (the obligee) the performance of an obligation by a third party (the principal). In other words, the surety company promises to be responsible for the debt, default or failure of another.
We require a completed bond application as well as a copy of your company’s most recent audited financial statement. We would also like to see a copy of your contract listing the bond requirements. The timeframe to acquire a bond depends on its complexity, with some of the larger bonds taking up to a couple of weeks to secure. Please keep this in mind when sending us your request for a bond.