Virginia Surety Bonding

​by Commercial Insurance Associates

Surety bonds play a crucial role in safeguarding performance amidst the unique businesses of Northern Virginia. Tailoring each bond to specific needs is key. Commercial Insurance Associates proudly offers customized surety bonding for contractors in the DMV, spanning across Virginia, Maryland, & DC.
Your trust, our commitment.

A surety bond is an agreement under which one party, the surety, guarantees to another party, the obligee, the performance of an obligation by a third party, the principal.

THE MOST COMMON TYPES OF SURETY ARE:

Contract Surety Bonds
Contract Surety Bonds are essential for contractors in the Northern Virginia and DC Metro area, particularly when working with government entities such as the DC Department of Transportation (DDOT), Fairfax County, or any local government projects. These bonds serve different purposes:

• Bid bond – Affords protection to a project owner (obligee) in the event a successful bidder will not enter a contract and will not provide the required surety bonds or other security.
• Performance bond – Provides protection to the obligee if the contractor defaults on its obligations under the bonded contract.
• Payment bond – Guarantees that the contractor will pay subcontractor, labor and material bills associated with the construction project.

​Commercial Surety Bonds
Commercial Surety Bonds are required of individuals or businesses by the government, legislation or by other entities. Commercial Insurance Associates provides the following types of commercial surety bonds:

• License and permit bonds – required by state, municipal or federal ordinance or regulation. These bonds may be required as a condition for engaging in a particular business or exercising a particular privilege. Examples include performance and payment bonds, customs bonds, tax bonds and warehouse bonds.
• Fiduciary bonds – required of those who administer a trust under court supervision.

Who Needs a Surety Bond? Contractors licensed in the following DMV/NOVA municipalities are required to be bonded in order to renew their license:

• Fairfax County, Virginia
• Arlington, Virginia
• Alexandria, Virginia
• Washington, D.C.
• Montgomery County, Maryland
• Many more!

If you are involved in residential or commercial construction in the Northern Virginia and DC Metro area, you're almost guaranteed to require a surety bond at some point in your career. Count on us to be your trusted bonding experts.

Commercial Insurance Associates offers access to bond markets throughout Virginia, Maryland, the District of Columbia, and beyond. Whether you're renewing your contractor's license, securing permits from local government entities, or seeking competitive bond rates for government contracts, we've got you covered.
Ready to explore our comprehensive surety bonding services? Call or text us at 703-518-5090 and let us be your partners in the Northern Virginia and DC Metro construction industry.