Surety bonds are legal contracts that states you will honor your commitments and directives. As stated by James J. Spindler of Surety Bond Authority, "Surety bonds are contracts whereby the obligee is protected against the failure of the principal to perform." A surety bond is considered as a commitment, which protects those who will be at risk if a person or entity does not meet their commitments and responsibilities.

Surety bonds protect individuals, public entities and businesses, who are involved in various legal transactions. If the person or company that is bonded defaults on their obligation, the surety will be responsible for paying all legal remedies, up to the decided-upon limit. For example, an accused drug dealer might require a surety bond in order to pay bail if deemed too high a flight risk. While a construction company or mechanic may need to supply a bond guaranteeing they won't cheat a customer by refusing to work with them on projects. For more detail, please refer to the info-graphic below.

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