If you are engaged as a contractor who engages in construction on state highways in Mississippi you are required by the State of Mississippi State Tax Commission to file a Mississippi Highway Permit Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Mississippi Highway Permit Bond holds you accountable for your business decisions.
By possessing a Mississippi Highway Permit Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.