Many of our customers inquire about what terms such as ‘Licensed, Insured, Accredited, and Bonded’ mean. Here, courtesy of the expert locksmiths at Chicago Locksmith, is some information about exactly what bonding means, and why it’s important.
Types of Bonds
Surety Bonds
There’s two main types of bonds. Surety bonds ensures that you will get quality performance out of a locksmith. For example, if a small locksmith company is hired to provide and install locks for large construction projects, they will issue a surety bond in order to guarantee the building owners that they will start and complete the job in a quality fashion. If the locksmith ends up ditching the job, the paid for bond will allow the construction company to use that money to pay someone else to complete the work. Surety bonds help to guarantee successful work outcomes, and demonstrates a locksmith’s serious dedication to their service.
Guaranty Bonds
Guaranty bonds promises clients that the individual person – ie: the specific locksmith working for the locksmith company – is trustworthy. The bond promises that if somehow the customer is hurt or stolen from, that they will be fully reimbursed. This is often seen as a cross-over aspect of liability insurance – however it covers purposeful neglectful or damaging acts, rather than a sheer focus on accidents.
Why Bonding Matters
Locksmiths have a great deal of influence over their client’s safety and security. They need to ensure that all information pertaining to their client’s security – notably, their key codes – remains fully confidential. Bonding helps promise our customers that the locksmiths they work with are trustworthy, and that they can have peace of mind in knowing that if anything does happen, they will be fully reimbursed according to the stipulations of the bond. Always ask locksmiths to see the bond itself before they work to make sure they are serious. Chicago Locksmith is proud to provide our customers the dedication for quality work completed – a dedication reflected in our full licensing and bonding.
