A Surety Bond is a generic name for all bonds. Bonds are usually required by the State or Federal Government. Reeder Insurance specializes in Colorado surety bonds. Surety bonds are three-party agreements in which the issuer of the bond (the surety) joins with the second party (the principal) in guaranteeing to a third party (the obligee) the fulfillment of an obligation on the part of the principal. The purpose of a surety bond is to protect public and private interests aga