A lot of people contact us during the renewal period with several questions.  Often times there is a little confusion over the process, and since these bonds are vital to keeping your business running, most people want to feel comfortable with the process, and know there will be no lapse.

we will give some information on Commercial surety bonds, in the coming days, look for information on both court and contract bonds.

Most Commercial surety bonds have a one year term (check your invoice to see what the term period is for your particular bond).  You should receive an renewal invoice from your agent about 90 days prior to the expiration.  At Bryant Surety Bonds, we will mail you this invoice, as well as fax/email a copy using the information we have on file.

number one question is, why 90 days prior?  The reason for this comes from the legal language on your particular bond form.  Bond forms typically have a 30/60/90 day cancellation clause.  Meaning if you are not going to renew your bond, the surety must notify the obligee, 30, 60, or 90 days prior to it expiring.

Should you not pay your bonds premium prior to the renewal due date, a cancellation notice will be sent to the obligee.  After this has occurred it may still be possible to reinstate your bond, but a reinstatement fee will apply.

The second most asked question is, “when will I receive my new bond�?  In most cases (assuming the bond form has not changed since the original bond was issued) you will not be receiving a new bond; instead your current bond will be continued.