Performance Bond E Fideiussione | Mdot E-Performance Bond

what is the difference between surety bond and fidelity bond?

Danielle Smith asked this on July 06, 2012 in Surety Bonds

SuretyBonds.com answered this on July 06, 2012

A surety bond involves a promise to pay a party a set amount in case a 2nd party fails to meet a specific requirement or keep a promise (ex: fulfilling a contract). In the event of failure, the surety is held responsible.

A fidelity bond are more like a traditional insurance policy than a surety. It has employee dishonesty coverage and covers theft of an employer̢۪s property by the company̢۪s own employees.