A depository bond is a surety bond purchased by a bank to guarantee the safety of a depositor’s funds and their availability for withdrawal as indicated in the terms of the deposit agreement. While depository bonds can be procured for private accounts, they are normally purchased to protect deposits belonging to governmental agencies (federal, state, and local), and school districts. The bond protects the account holder/depositor from the loss of funds placed on deposit with the bank and interest due thereon, in the event of bank insolvency. Surety One offers bank depository bonds through three national surety companies, rated ‘A+ Superior’ by A.M. Best. Call (787) 333-0222 for information, email Underwriting@SuretyOne.com, or download the application and follow the submission instructions.