Forfeiture Surety Bond

A Forfeiture Surety Bond is a general term used to describe bonds in the surety industry. A Forfeiture Surety bond is one in which the full penalty of the bond amount is paid out by the surety company upon the event of claim regardless of the amount of the actual loss or damage. Surety companies consider these types bonds to be a greater risk considering they must pay in full for any breach. Because the risk is considered greater, they can be more difficult to place.

Since they are more difficult to write, it is better to obtain these bonds from an agency that specializes in surety bonding, like Alpha Surety & Insurance Brokerage.