Bonds

Bonds are used mostly by business owners in skilled labor and service industries like contractors, plumbers, and electricians, as a service to their clients to demonstrate they are reliable and their work is backed by a bond. The bond allows their client to sue for compensation if work is not completed, or a contract is breached such as failure to complete a specific job, or the completion of that job was not to the standards set forth in the contract, or code set by the city.

Other types of bonds include those used for notary public, ownership of abandoned vehicles, people who handle financial benefits of others, and many other less-known bond types.