Bonds
Cover your risk. Insure your performance.
Cover your risk. Insure your performance.
A bond is a three-party contract in which one party, the surety, guarantees the performance or honesty of a second party, the principal, to the third party, the obligee, to whom the performance or debt is owed.
Bonds are designed to induce the obligee to contract with the principal by demonstrating the principal’s credibility and guarantee performance per the terms of the agreement.
Higginbotham has a unit solely dedicated to providing a broad range of federal, state and local bonding services. We represent the country’s top surety companies so we can provide bonds to a wide range of businesses and individuals with varying credit situations. Our broad market representation and focused expertise allow us to support your growth by expanding your bonding capacity and provide quick turnaround.
Employee owned and customer inspired, we start with listening and end with custom solutions.
That means our seasoned bond specialists take the time to get to know your unique operation to help ensure we suggest the right bond options for your needs. And, that’s why we leverage our deep industry knowledge and time-tested relationships to deliver solutions other’s can’t.
Because when you lead with values, year-round value leads.
To learn more about how our values-based approach drives value for your business, click here.
Or visit our Insights page to learn more about bonds.
You may have questions about the right bonds for your situation or the options you have to consider.
Connect with a seasoned bond professional to learn more about what a bond from Higginbotham can do for you.
Contract payment and performance bonds guarantee that a contractor will pay fees owed to subcontractors for labor and materials and upholds the value of the work performed. They are commonly used in the construction and development of real property.
Fidelity bonds cover employers for losses caused by dishonest acts of bonded employees, either by name or by position. Dishonest acts include larceny, theft, embezzlement, forgery, misappropriation, wrongful abstraction and willful misapplication.
A broad range of bonds that do not fit the classification of a contract. There are four types of commercial surety bonds: license and permit; court; public official and miscellaneous.
A broad category of bonds required in court proceedings. Judicial bonds are required when a litigant seeks a special right or remedy in advance of a final court decision. They guarantee conditions if the opposing party incurs damages as a result of the privilege or that the privilege was unjustified. Fiduciary bonds guarantee that the individuals or legal entities appointed by the court to oversee the property of others will execute those duties in good faith and be accountable for deficits.
Guarantee the proper performance of a professional. Some of the most common professions requiring them are construction contractors, insurance salespeople, car dealerships, warehouses, notaries public and private detectives.
License and permit bonds are required by certain federal, state or municipal governments as a prerequisite to receiving a license or permit to engage in specified business activities. They guarantee that the principal will comply with applicable laws and regulations.
This class of bonds guarantees compliance in connection with the drilling and all operations of oil and gas wells and pipelines on and offshore. Common bonds are plugging and abandonment, decommissioning, right of way, permit, performance and excise tax.
A warranty bond, also known as a maintenance bond, is a financial guarantee made by a builder that protects the owner of a construction project from defects or issues due to the quality of materials or workmanship that may arise after a project is completed.
At Higginbotham, we take a consultative approach to customer service and risk management.
Whether you have a single policy, a commercial package or many insurance policies covering multiple locations and risks, we take the time to understand your unique needs so we deliver the best coverage at the best price available.
But we don’t stop there.
Our work continues 365 days a year. We have a Day Two Services® team that works in tandem with our risk management specialists to deliver year-round value.
From help with compliance to safety audits and claims advocacy, our Day Two Services® team helps you mitigate risks, avoid costly claims and better position your operations so you can focus on what matters most: growing your business.
William Blanchard is a Managing Director at Higginbotham, practice leader of our Construction Division, Surety division and co-practice leader of our Real Estate/Habitational specialty practice. William is a commercial broker and consultant with diverse experience in property and casualty. His risk expertise is focused on construction, surety and property insurance for real estate developers. William received a degree in Economics from The University of Texas at Austin. William joined Higginbotham in 1994. Based out of our corporate headquarters in Fort Worth, he leads a team of 30 sales, customer service and marketing representatives responsible for key business insurance accounts.
William is an avid outdoorsman who enjoys hunting, fishing and ranching. In his free time, he manages a ranch and is a Fort Worth Stock Show Syndicate member.
He also loves spending time with his wife Beth of 30 years, three daughters and his son.
We start with listening and end with a customized solution built around your needs.
