Public Official Surety Bond

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A Public Official Bond is a type of surety bond that serves as a statutory obligation requiring faithful performance, fidelity, and integrity of a public official’s duties to the public.

The bond requires public officers and secondary obligors to pay a fixed amount if they do not faithfully perform their duties in the office. Like all surety bonds, this bond consists of a three-party agreement:

Principal – Public official
Obligee – Government or public being served by the official
Surety – Bonding company that underwrites the bond and is the secondary obligor
This bond is one of the oldest forms of written guarantee that requires persons to obtain to qualify for office. In 1792, Congress passed an act that the Office of the Paymaster “shall give bond in the sum of $20,000, with two sufficient sureties, for the faithful discharge of duties.”

Depending on the statutes of a specific jurisdiction, Public Official Bonds may be faithful performance bonds, fidelity bonds, public employee dishonesty bonds, or public employee blanket bonds.

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