While there are some similarities between Surety Bonds and an Irrevocable Line of Credit (ILOC), there are some significant differences that make surety bonds more cost-efficient and beneficial to prospective customers. This article will briefly explain surety bonds and ILOCs are, how they work, and what makes them different from one another. After reading this article, you will understand the benefits to posting a surety bond, and will be able to see how they can actually save you money.

What is a Surety Bond?

Surety Bonds (often misspelled as