Information on California Surety Bonds

Provided by an Experienced Santa Ana Surety Bond Attorney

A surety is one who promises, on the happening of an event or condition, to become legally liable for the debt, default or failure of another party.

The limit of liability of the surety is defined by the penal sum of the bond, or, in other words, the amount specified on the face of the bond. The document by which a surety promises to become legally liable is called a “surety bond”.

There are many kinds of surety bonds including:

• Bid Bonds
• Contract Performance Bonds
• Payment Bonds
• License and Permit Bonds
• Fiduciary Bonds
• Court Bonds
• Financial Guarantee Bonds
• Public Official Bonds
• Subdivision Bonds
• Bail Bonds

For more information on bonds, please view Kinds of Surety Bonds.

Additionally surety bonds can be required by a law or a regulation, meaning they can be statutory bonds or common law bonds created by a contract.

For statutory bonds, the scope of the coverage and extent of the liability of the surety and the obligees to whom the surety would be liable are determined by the statute which created the bond. For non-statutory or common law bonds, the coverage and extent of liability of the surety and the obligees to whom that obligation extends are determined by the written bond itself.

Many times there is disagreement about whether the condition imposing the liability of the surety has actually occurred. When such a disagreement cannot be resolved without legal intervention, it may become necessary to involve attorneys who have extensive experience in the surety field.

At Lanak and Hanna, P.C., you will find a Santa Ana surety bond attorney who is well-versed in surety bond law. Lanak & Hanna has been representing clients in surety bond litigation for over a quarter century, and we have the knowledge and expertise to determine the extent of your surety bond liability.

If you are in need of a qualified attorney to answer your surety bond questions, contact a Santa Ana surety bond lawyer at Lanak and Hanna P.C. today.

Disclaimer: The summary above is not intended as and should not be construed as legal advice. The statutory and case law is subject to constant revision and modification. The reader is strongly advised to consult an attorney whenever job rights are at risk.