Fidelity and Surety Bonds

Fidelity, Contract and Surety Bonds

Fidelity, Surety & Contract Bonds
Millsaps & Associates, Inc. 

What is a Bond?

Insurance protects you in the event something happens, bonds protect someone else if something does not happen as it should.  There are three primary classifications of bonds:  Fidelity, Surety and Contract Bonds

Fidelity Bonds

These bonds protect someone against the fraudulent acts of someone else.  They are often used in conjunction with Crime Insurance.  Examples would be theft of money by an employee or someone entrusted to handle money.

A business owner of a Janitorial Service would take out a Fidelity Bond to protect the property owner they are performing cleaning services, or if an employee takes something of value. Other types of commonly issued bonds are for burglary, disappearance, fraud, forgery.

Contract Bonds

Contract Bonds, often known as Performance Bonds, are a guarantee that you WILL perform a function such as completing a construction job, or complete it on the date specified.

Often a municipality will require a company to present a Bid Bond which protects the municipality from having to re-bid and suffer the extra expense if the low bidder was unable to perform. These often go hand in hand with Performance Bonds and both are underwritten at the same time.

When you need to register a vehicle and you do not have the title, a Certificate of Title bond is issued to protect the state for issuing the title if the act was dishonest.

Surety Bonds

Bonds, encompassing a wide array of coverages, are broken into some major categories: License & Permit, Court Bonds, Probate Bonds, Foreclosure or Redemption Bonds, and Miscellaneous Bonds.

License & Permit bonds are when a city or state requires a company to abide by building codes, or listed performance standards in their job.  These are often written very freely and are inexpensive.  Common examples might be a used motor vehicle dealer, a dismantler, or designated agent bonds.  A contractor may need a license bond to pull a permit in a city or county for a job.

Court Bonds examples are Appeal Bonds, Costs Bonds, Detinue Bonds, Replevin Bonds, Foreclosure Bonds, and any bond that may be required by the court.

Since these are specific bonds related to specific court situations, we can help you understand each court bond with you -  call, or visit us.

Probate Bonds, like Court Bonds, are required by a court and often a state law, but are only required in Probate Court.  An examples would be an Estate Bond needed when someone is deceased and their estate needs to be probated in the court.  This covers someone who is appointed Executor, Administrator, or Personal Representative to look after the estate that will be distributed to the heirs.

Another type would be a Guardian and/or Conservator of a minor or Incapacitated Adult.  This is needed when the court has appointed someone to look after their affairs.  We are experienced in these bond types, and can help you understand how they apply.

As a business owner, you may need a bond to guarantee payment for state sales taxes, utility bills, etc.

As a contractor, you may need to post a license or permit bond to guarantee your work for licensing requirements with municipalities.

Notary Public officials are required to post bonds in almost every state.  Associated fees are often as low as $50 US in many states.

Attorneys may have clients who are required to post court bonds.  Bonds are also issued to guarantee executor, or administrator performance during asset distribution and allocation for estate settlements.

This sampling of the types of bonds and their applications, is an area specialization filled by Frank Millsaps, the founder and owner of Millsaps and Associates.

Millsaps & Associates, is proficient in writing the types bonds presented here.

Frank Millsaps offers you his personal assurance that he will find, and help you select the product you need, with price sensitivity, and express delivery.

Usually, we can research, quote and issue the bond you select, on the same day.

We offer city contractor bonds, license & permit bonds, used motor vehicle bonds, independent & public adjuster bonds, court bonds, and fiduciary bonds, fidelity, title, performance and bid bonds and notary bonds - just about any bond you can name.

  • License & Permit
  • Public Official
  • Probate or Court
  • Contract Performance
  • Notary Bonds
  • Blanket Fidelity
  • Schedule Fidelity
  • Miscellaneous Surety

Our on-site team can write fidelity and surety bonds in all 50 states.  Usually, we can research, quote and issue the bond you select, on the same day. Why Wait?


Millsaps & Associates, Inc.
The Fidelity, Surety & Contract Bonds...

Do you need insurance or a bond?  Does your current policy or bond need re-evaluation? Find the right insurance policy or bond to protect you, your family, your business and assets with the Millsaps & Associates agency.

Re-discover courteous, resourceful and respectful customer service.  Schedule an appointment today with Millsaps & Associates, Inc., for your insurance and bond requirements.  We have comprehensive solutions to fit your unique needs.

Earning your trust and confidence,
is our formula for success

Frank Millsaps CIC, CISR, CGA
President, Millsaps & Associates, Inc.

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