Public Official Bonds
A Public Official Bond is a type of surety bond required for individuals holding public office to guarantee honest and faithful performance of their duties. These bonds protect the government, taxpayers, and the public from losses caused by misconduct, negligence, or failure to perform official responsibilities.
Apply below, call our Commercial Department at 407-786-7770 or email us at [email protected]
Why You Need a Public Official Bond
A Public Official Bond is essential to:
- Ensure faithful performance of official duties
- Protect taxpayers and the government from financial loss
- Demonstrate integrity and accountability
- Meet legal or statutory requirements
- Maintain eligibility for office
Without a valid bond, a public official may be unable to assume or continue in office.
Public Official Bond FAQs
These are some of the most common questions asked about Public Official Bonds and how they work.
A Public Official Bond is a legally binding agreement between three parties:
Principal: The public official
Obligee: The government agency or municipality requiring the bond
Surety: The bonding company
This bond ensures that elected or appointed officials fulfill their duties ethically and responsibly. If a public official engages in fraud, embezzlement, or neglect, a claim may be filed against the bond, and the surety compensates the obligee up to the bond limit. The official is responsible for reimbursing the surety.
The cost of a Public Official Bond is a small percentage of the total bond amount, usually 1%–5% annually, depending on:
Bond amount required by law
Applicant’s credit and financial history
Position and level of responsibility
Years of experience in public office
For example, a $25,000 bond may cost $250–$1,250 per year for a qualified applicant.
Public Official Bonds operate as a three-party agreement:
The public official (principal) agrees to perform duties according to law.
The government or municipality (obligee) is protected against losses.
The surety issues the bond and pays claims for valid losses.
If a claim is made, the surety pays up to the bond limit, and the official reimburses the surety.
Public Official Bonds are required for a variety of positions, including:
- Mayors, council members, and commissioners
- Treasurers, tax collectors, and finance officers
- Sheriffs, constables, and other law enforcement officers
- Clerks, registrars, and other administrative officials
- Any elected or appointed official designated by law
Requirements vary by state and local jurisdiction, including bond amounts and licensing or election eligibility.
Call us at 407-786-7770 or email us at [email protected]