J. B. Martin Insurance Agencies

JB Martin has retired and merged with Inszone if you need anything please contact Marybeth Martin as she is working with Inszone 505-581-4747 or email [email protected]. Merry Christmas 🎁

The penal sum is the terminal and maximum amount the surety bond company would be required to pay the obligee in the event of default.

If contractor default could not be avoided, surety companies can opt to take over the project, hire new contractors, provide better-trained personnel, or let the owners find new contractors on their own.