Ohio Public Official Bond

An is a requirement in Ohio for certain individuals holding positions of public trust. They serve as a financial guarantee that the official will perform their duties honestly and ethically, and are intended to protect the public from financial losses caused by misconduct. The bond amount varies based on the position and is determined by the relevant statutory requirements or court order. Typically ranges from $1,000 to $50,000, but can be higher for specific roles. The cost of the bond is usually subject to the minimum premium and fees of $150.00 or .75% to 2% of the bond amount for larger bonds.

How to Get an Ohio Public Official Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application.
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Ohio Public Official Bond will be shipped to the bond applicant.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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What is a Public Official Bond?

In Ohio, public official bonds are actually a combination of both surety bonds and fidelity bonds. This means they offer the protections of both types:

• Surety Bond: This aspect guarantees faithful performance of duties. This covers losses resulting from negligence, malfeasance, or errors in judgment, even if accidental or unintentional. Think of it as ensuring the official fulfills their responsibilities as outlined by law or their position.
• Fidelity Bond: This protects against dishonest acts like theft, embezzlement, or misuse of public funds. It ensures financial consequences for intentional wrongdoing and compensates the public for losses caused by such behavior.

Therefore, in Ohio, public official bonds cover a broader range of potential issues compared to just one type alone. They provide a safety net for the public both when an official fails to perform their duties properly (even without malicious intent) and when they actively engage in misconduct. If the surety company pays a claim on the bond, it will seek restitution from the bond principal (public official).

Remember, the specific details of these bonds, including required amounts and covered situations, can vary depending on the specific position and relevant laws. For precise information on your scenario, consulting with legal counsel or the responsible government agency is always recommended.