Frequently Asked Questions - Surety Bonds
1) What is a Surety Bond?
Surety bonds are a financial instrument (not insurance) that the University may be required to obtain as a guarantee that we will fulfill our obligations under a contract.
2) How do I obtain a Surety Bond?
You must first provide your specifications/contract (after review by OUC) to the Office of Finance. They will help determine if a Surety Bond is acceptable or whether another form of security, such as a Letter of Credit, is more appropriate.