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Bonds called surety bonds are issued by a third person to guarantee that somebody will perform a job or service for the first person. At times, landlords enter into a surety bond style of arrangement with the utility services that they provide for their renters. A landlord is often asked to place a deposit of money into a utility service trust account to ensure that the utility services that are supplied to the rental unit will be paid.

The surety bond arrangement will always be between at least three people. The surety supplier guarantees that one person will perform an act or service for another person. Surety bonds can come in a wide variety of formats that cover many different types of performances. Some of the more common surety bond arrangements include bail bonds, construction bonds, and independent contractor bonds.

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