At Melwain Surety Bonds you can count on us for fast and friendly service. We are a family owned surety agency operating in the Long Island area for three generations. If there is anything we have learned over our many years in the industry, it is that our success depends on the loyalty and confidence of our customers. We value this relationship and show our appreciation in the form of excellent and expedient service.
Our broad range of markets allows us to place difficult risks, otherwise turned down by other agencies. We understand that everyone does not have the same financial situation, therefore we have affiliated ourselves with different sureties who tailor their response to your individual needs.
No matter whom the client; we have the right market for you!
What is a Surety Bond?
Suretyship is a contractual relationship whereby one party, a surety, agrees to answer for the debt, default, or miscarriage of another, a contractor.
Most surety business is simply about guaranteeing. In the old days, when you knew the cobbler next door, you knew that he would do a good job making a pair of shoes for you. In the event there was a problem you would go back and have him correct it.
As our cities grew, it became increasingly more difficult to go to the professional next door to get the job done. Since you no longer knew who was doing the job but still wanted some way to guarantee that the job would be performed correctly, a surety bond was supplied. If the job was not performed properly, the surety company would step in and hire someone else to finish that job.
As a wholesaler, our client is you, the producing broker, not the client direct. Therefore, we give the same attention and response time to your $10,000 and $10,000,000 bond needs. We will invoice you and allow you to pay us net, avoiding any time delays in collecting your commission. After all, you worked for the account, you earned your commission, and should not have to wait for it.
Commission starts at 12.5% for all new brokers but can be increased with volume. We look forward to you joining the Price & Price Enterprises family.