Recently, our firm began handling cases involving surety law. Adding surety law to our firm’s stable of practice areas provides our team of attorneys with yet another way to assist clients with their legal needs. At Cantafio & Song PLLC, our top priority is always protecting our clients’ rights and securing the most favorable outcomes possible for their situations. We look forward to helping clients overcome legal matters related to surety law.
What Is Surety Law?
Surety law involves tripartite contractual agreements. A tripartite is a contractual agreement that involves three parties. In the case of a surety law tripartite, the three parties are the surety, principal, and obligee, and the contractual agreement involves a bond.
A principal is a person or entity that promises to perform a service, make payments, or otherwise conform to the conditions of the bond/contract.
A surety is a person or entity that guarantees that the principal will perform a service, make payments, or otherwise conform to the conditions of the bond/contract. A surety does this by promising to answer for the principal’s debt or default if the principal doesn’t fulfill the bond/contract.
An obligee is the person or entity that the surety and principal must answer to regarding the bond/contract. If the principal does not fulfill the terms of the bond/contract, the obligee can demand that the surety perform services, make payments, or otherwise conform to the conditions of the bond/contract.
Surety bonds are often required as a part of court proceedings, construction contracts, notaries, permits, professional licenses, estate and trust fiduciaries, and as a condition of other types of commercial agreements.
Types of surety bonds include but are not limited to the following:
- Construction Bonds
- Permit Bonds
- License Bonds
- Notary Bonds
- Court Bonds
Schedule a Free Consultation to Discuss Your Situation with Our Experienced Surety Law Attorneys in Colorado
Cantafio & Song PLLC is a full-service boutique law firm serving clients in Denver, throughout Colorado, and nationwide. Our legal team has more than 150 years of combined experience. We are adept at successfully managing legal matters inside or outside the courtroom. Since we’re a boutique law firm, we work closely with our clients and value their input. We always keep our clients fully up to date on their cases at every stage of the process.
If you are facing a legal issue involving surety law, such as a surety claim or defense, we can help. We understand every aspect of surety law and we will do everything within our power to secure the most favorable outcome possible for your case.
To learn more about Cantafio & Song PLLC, and our dedication to our clients and their cases, read our clients’ testimonials.