How does a Surety Bond work?
The Surety Company, in this case, Pacific Union, guarantees the performance of the principal or obligor of an obligation or undertaking in favor of the Obligee.
Types of bonds offered by PUIC
- Bidder’s Bond
- Surety/Down Payment Bond
- Performance Bond
- Retention or Warranty Bond
- Other types of Bonds
*Note: Other documents maybe required.
- Duly accomplished Application form (link to PDF form)
- SEC Registration, Articles of Incorporation & By-Laws
- Latest GIS, Audited Financial Statements, and Income Tax Return (ITR)
- Company Profile with list of clients, completed and ongoing projects
- At least 2 liquid Co-signors with Co-signor statements, their valid IDs, and ITRs, to establish financial capacity.
- Copy of the agreement/contract, stating the undertaking and the requirement of the specific bond