Conservation United has developed a line of bonds tailored to nonprofits. Surety (bonding) companies generally require an owner to personally guarantee/indemnify every bond, while failing to understand that nonprofit organizations do not have owners. Executive directors or board presidents are far too often required to sign a personal guarantee backed by a social security number in order to secure a necessary bond. Conservation United’s Nonprofit Bonding program has overcome this dilemma by working with surety companies to accept a nonprofit organization’s FEIN rather than an individual officer’s social security number to indemnify (guarantee) performance, bid, and contract bonds.
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