Surety Bonds

Originally formed by the parties involved in buying and selling to guarantee delivery of farm crops in Mesopotamia circa 2750 B.C., these guarantees can include personal financial liability and other obligations. The Surety company pays for failure in a contract and then looks to the signer of the contract (indemnitee) to get paid back. It is not insurance.

Northrup Corporation makes certain our clients clearly understand the ramifications of surety bonds, especially the unique burden they place on the purchaser.