Applying for a Surety Bond with AAUG Insurance Company The American Assurance Underwriters Group is a multinational insurance organization managed by experienced professionals with an expertise in risk management and investments. We are currently writing various forms of surety bonds on an international basis.
Learn more about surety ship here. What is a Surety Bond? A surety bond is a written agreement that provides compensation, often monetarily, in the event that a Principal fails to complete the contract as stated. There are a variety of types of surety bonds AAUG Insurance Company LLC specializes in, including:
Bid bonds Payment and advance payment bonds Performance bonds License bonds Tax and excise bonds Environmental bonds
Surety Bond Basics How to Apply for a Surety Bond? If you’re currently in the market or are required by law to purchase an international surety bond, the process to apply is simple with AAUG. First, you’ll want to determine what type of surety bond you’ll need. The best way to get the form you’ll need is to ask the bond’s obligee. Once you receive the blank form, we encourage you to look it over to better understand all of the technical terms and
important information you’ll need to provide. Also, give yourself enough time for the process to take place. That means not waiting until a few days before your bond is due. Next, as your chosen surety provider, we will need a certain amount of information from you. So, to be prepared, we suggest that you gather such personal and business information as:
the bond amount (which is also called the penal sum) the business name as it appears on the license social security numbers of all owners home addresses of all owners relevant financial records
Once you have contacted us, you will have to fill out our application and provide the correct information. We must stress the importance of having the correct information because even the slightest error, say missing punctuation in the business name, will cause your application to be rejected. This will only prove to prolong the process and could end up costing you more money. Once your application is accepted, the last thing to do is pay for the surety bond. Nothing will take place until payment is received, so this is an obvious, but critical step in the process. For an in-depth look into the process of applying for a surety bond, click here.
Why Choose AAUG for a Surety Bond? surety bonds for virtually any situation. Our primary focus is to assure that the Principal has the experience, technical capacity, manpower, and financial means to perform their contractual obligations. We require strong collateral from our clients and we offer the highest levels of client service, regardless of the size of the bond. We also have a proven track record with six years of writing surety bonds internationally. Should you have questions about surety bonds or any other types of international insurance, we have friendly associates ready to assist you. To learn more about AAUG, please visit us at www.aaug.com For more information Contact us @ +1 (954) 315-3879 or visit @ – www.AAUG.com