public official bond

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July 13, 2026

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A public official bond is a type of surety bond that protects against the failure of a public official to faithfully perform their duties. This bond involves three parties: the principal (the public official), the obligee (the public agency or state), and the surety (the company providing the bond). The surety guarantees that the public official will fulfill their obligations, and if they fail to do so, the surety will reimburse the obligee for any losses. Unlike insurance, which covers random events, surety bonds cover failures within the control of the bonded individual. Public official bonds are distinct from public bonds, which are issued by governments.123

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Major types of surety bonds
Public official bonds guarantee that public officials will faithfully and honestly discharge their obligations to the state or to other public agencies. Lost instrument bonds guarantee that if a lost stock certificate, money order, warehouse receipt, or other financial instrument falls into unauthorized hands and…
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Public official bonds guarantee that public officials will faithfully and honestly discharge their obligations to the state or to other public agencies. Lost instrument bonds guarantee that if a lost stock certificate, money order, warehouse receipt, or other financial instrument falls into unauthorized hands and…
Read More