Surety bonds are contracts that guarantee the fulfillment of obligations, mainly derived from other contracts, covenants or laws. There are different types of bonds, depending on the obligation that needs to be guaranteed.
Administrative Bonds. These are bonds that guarantee any type of valid, legal and financial obligation, celebrated between federal government entities and private individuals. The type of bonds that exist are Bid Bonds, Proper Use of Prepayments Bonds, Fulfillment Bonds, Quality Compliance Bonds, Leasing and Concession Bonds, and others.
Fidelity Bonds. These are bonds that insure a business from harm to its equity caused by dishonest acts committed by its employees against its assets or third party assets for which it is legally responsible. The crimes it covers are Theft, Fraud, Breach of Trust and Embezzlement.
Credit Bond. A loan bond guarantees to corporations the fulfillment of loan obligations contracted by individuals or firms, related to the payment of a certain amount of money. The types of Bonds in this category are Supply Bonds, Buying and Selling Bonds and Merchandise Distribution and Financial Bonds.
Bail Bonds. A Bail Bond is a Bond that guarantees the fulfillment of specific obligations requested by individuals within a judicial process, or those imposed by a judge or law obligating an individual to guarantee a specific procedural act. The types of bonds in this category are Penal, Civil, Mercantile, Defense (Amparo), Family, Property Leasing and others.