Surety and fidelity bonds are necessary for most businesses whether required by local or state mandates, or to provide added protection and indemnification. Bonds can play a critical part in your overall risk management strategy, no matter the size of your company. As a business owner, you may need a surety bond to guarantee payment for state sales taxes or utility bills or as a contractor, you may need to post a license or permit bond to guarantee your work for licensing requirements with municipalities. Notary publics are required to post bonds in most states.