Missouri Surety Bonds

Missouri Surety Bonds Overview

Surety bonds are required in Missouri for several purposes. To obtain a business license, you may need to get bonded before the licensing agency issues your license. Similarly, as a contractor, in order to work on a state or federal construction project over a certain dollar amount, you may be asked to get bonded.

What is the purpose of the bond?

Surety bonds guarantee that the bonded party, called the bond principal, will comply with the conditions of the bond. These conditions usually include compliance with state laws and specific responsibilities and obligations of the principal.

The bond also acts as protection for one or several parties, called the bond obligee, which is usually the state but often also the public of the state. The obligee can file a claim against the bond if a principal’s actions have led to their suffering losses or damages. The bond guarantees that claimants can receive financial compensation when filing a claim.

To find out more about why bonds are required and how they work, see our ‘What is a surety bond’ guide!

If you know what type of surety bond you need, scroll through the table below, select your bond and get started with your application process!

If you are not sure what type of bond you need then have a look at the section below that explains the different types of bonds in Missouri, their cost and how to get yours.

Types of Missouri Bonds

There are three main types of surety bonds that are typically required. These are:

• License and permit bonds - required for licensing purposes
• Contract bonds - required for contracting purposes
• Court bonds - required for various court purposes

License & Permit Bonds

It is customary that businesses who want to obtain a license or permit must submit a surety bond along with their application. The purpose of these bonds is to guarantee that each business will comply with their responsibilities and obligations as defined in state law. For example, before they can open a dealership, car dealers in Missouri need to get an auto dealer bond. Many other businesses in the state also need to get licensed.

Whether you need to get licensed or not is determined by the Missouri state agency such as the state Department of Revenue. Make sure to check with your licensing agency to find out about the bonding requirements you may need to comply with.

Contract Bonds

Contractors in Missouri will often be required to obtain contract bonds. These bonds will be requested by project owners, whether they are private owners or the state government. They serve to guarantee that contractors will perform in accordance with the bid they have submitted and adhere to the conditions of their contract.

Court Bonds

Missouri courts may sometimes require appellants or fiduciaries to post court bonds. If such a bond is needed, a court will order that it is obtained before an appeal is granted to an already made judgement or a fiduciary is appointed.

If you are not sure whether your surety bond falls under any of the above categories, feel free to call us at 866.450.3412. Our agents will be able to provide you with advice and directions.

How Much Does it Cost to Get Bonded in Missouri?

How much a Missouri surety bond costs is determined by the type of bond and its full amount as well as by the applicant’s credit score and other financial statements.

What is the bond amount?

The amount of every surety bond represents how much coverage a surety company will extend to obligee if there is a legitimate claim to file against the bond. This amount is determined by state agencies that require the bond.

The actual cost to obtain a bond is not the same as the bond amount. The cost of your surety bond is a percentage of the full bond amount. What percentage or premium rate you have to pay depends on a few things.

How is the cost of my bond determined?

Applicants are usually put in two general groups when applying for a surety bond based on their financial capacities and strength. The main factor that surety bond companies take into consideration when determining the rate of an applicant’s surety bond is their personal credit score. Along with that, sureties also take into account:

• Business financial statements
• Personal financial statements
• Applicants’ industry experience
• Additional financial factors

Those applying for a Missouri surety bond who have a high credit score are offered so-called standard market rates which vary between 1%-4% of the total amount of their bond.

Those who have a lower credit score are also able to apply, though the rates that they are offered vary between 5%-15% of the total amount of the bond. This is so because applicants with less-than-perfect credit are riskier to get bonded.

To get an estimate of your bond cost, try the surety bond calculator below!

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Surety Bond Cost Calculator

Bond Type Select Your Required Bond Auto Dealer BondCollection Agency BondContractor License BondDebt Collector BondFreight Broker BondMedicare/Medicaid BondMortgage Broker BondRetail & Professional Services BondSchool BondSmall Loan Company BondSports Permit BondTax & Utility BondTelemarketing BondTravel Agent BondAll Other License Bonds

State Requiring the Bond Select Your StateAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyoming

Surety Bond Amount ($)

Select Your Credit Score Please select Above 700 650 - 699 600 - 649 550 - 599 549 and under

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If you would like to know more about surety bond rates before applying, have a look at our Surety Bond Cost page.

How to Get Bonded in Missouri

Ready to get bonded? See below for instructions, depending on the bond you need.

License bond application

If you require a license bond, complete and submit our online bond application form. We will process your application within a short amount of time and get in touch to provide you with a free quote on your bond, along with further information.

Contract Bond Application

If you want to apply for a contract bond, complete the online application and provide the required information. We will be in touch with you as soon as we’ve reviewed it!

If you have any unanswered questions, don’t hesitate to contact us at 866.450.3412 anytime!

Further Reading

About us:

Bryant Surety Bonds

Bryant Surety Bonds, Inc. is a surety bond agency based in Pennsylvania. Licensed in all 50 states and with access to over 20 T-listed, A-Rated bonding companies, we have the contacts, expertise, and top service to provide you with a hassle-free experience, all while offering competitive rates for your surety bond.