No. It guarantees your obligation to the obligee. If the surety pays a claim, you are expected to repay it.
Related FAQs
No. Fidelity is crime coverage for employee theft, which we handle separately.
A bid bond backs your bid, a performance bond backs your completion of the work, and a payment bond backs payment to subs and suppliers.
Licensed contractors generally need a contractor license bond filed with the CSLB. The state sets the required amount, which can change.
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