Faithful Performance Surety Bond

A Faithful Performance Surety Bond is a general term used to describe bonds in the surety industry. Surety bonds typically protect against dishonest or fraudulent acts of the principal. A faithful performance surety bond goes beyond this and protects the insured party against the principal not faithfully performing their duties as prescribed by law, the constitution or the bylaws of the insured. In other words, the coverage is much broader than a standard surety bond.