Paramount's
Suretyship and Bonds provide indemnity to a third party
(called the Obligee) against loss up to a specified amount,
resulting from the failure of an individual (called the Principal)
to perform his obligation under a contract. Some types of bonds
underwritten by Paramount include Performance Bond, Replevin
Bond, Guaranty Payment Bond and Brokers’ Blanket Bond.
Paramount’s Performance
Bond is designed to guarantee the construction
and completion of a project in accordance with the approved
plans and terms of conditions of the contract. It may also
guarantee the principal’s obligations to furnish and
deliver supplies, materials and other commodities to another
party.
The Paramount Replevin
Bond indemnifies your claim to title. It provides
indemnity to the person from whose custody the property
was taken for such damages as he may sustain.
Paramount’s Guaranty
Payment Bond guarantees the payment of money in
accordance with the law or contract.
The Paramount Brokers’
Blanket Bond covers brokers’ professional
liability against loss from claims against the insured for
alleged negligent acts, errors or omissions committed in
the originating, financing, closing, selling or servicing
of mortgage loans on real estate or the rendering of advice
for the above.
