Bonding is security against loss or damage or for the fulfillment of an obligation, the payment of a debt, a pledge, a guaranty, or a bond. There are situations in which someone must assume the risk that another party might not fulfill the terms of a contractual arrangement.
One method businesses and government agencies use to mitigate this risk is require that a sum of money be put up as a guarantee. Typically, individuals and businesses required to put up money in this way do so by purchasing a surety bond. Hudson Valley Agents has been providing bonding contracts for their clients for over twenty years now.