Pennsylvania Surety Bonds

Pennsylvania Surety Bonds Overview

Pennsylvania business license applicants as well as contractors are frequently required to post a surety bond. This bond guarantees their compliance with state laws, and the specific requirements of their particular profession.

What does the bond do?

The bond agreement guarantees that the bonded party will comply with state laws and regulations. It also serves as financial security and protection for the state and the public. If a bonded business violates the bond conditions and causes losses or damages to one or more individuals, a claim may be filed against the bond to receive compensation.

For a fuller explanation of how bonds work, see our detailed 'What is a surety bond' guide!

To go straight to your surety bond application form, find the bond you need in the table below and follow the application link.

If you’re new to surety bonds, the sections below offer extensive information on the types of bonds you can obtain in the state, how much getting bonded costs and how to get your bond.

Types of Surety Bonds in Pennsylvania

License bonds are required of businesses that need a business license in the state. Contract bonds, or construction bonds, are the bonds that licensed and bonded contractors need to obtain when they are awarded a contract for work on a construction project in the state. Finally, court bonds are required in specific cases, for individuals appearing in front of a Pennsylvania court.

Read on for all for more about these different types of Pennsylvania surety bonds.

License & Permit Bonds

A license and permit bond is a type of guarantee to customers, that the business is licensed and will adhere to Pennsylvania state regulations and rules. If a business does not adhere to said regulations, customers can seek legal recourse by filing a claim against the business’s bond. Through filing a claim, customers can ultimately secure financial compensation for having been deceived or otherwise harmed by a business.

Bonds such as the auto dealer bond, the mortgage broker bond and the freight broker bond are some of the most common license bonds in the state.

Contract Bonds

According to federal and state law, contractors who are licensed and bonded in Pennsylvania may need to obtain contract bonds, especially when working on federal or state projects. Private project owners will often also require contractors to get bonded.

Like all bonds, these bonds are also a type of guarantee – to project owners and subcontractors – that a contractor will comply with state regulations as well as with the specific conditions of the project contract.

These types of bonds include bid bonds, performance and payment bonds, and a variety of others.

Court Bonds

Pennsylvania state regulations also require some individuals to get a court bond when appearing before a court. Usually, a court bond is either an appeal (or supersedeas) bond – required of someone appealing a court ruling – or a fiduciary bond, which is required of someone appointed to act as another person’s fiduciary.

Want to know more about your bond? Call our surety experts at 866.450.3412 with all your questions about getting bonded in Pennsylvania.

How Much Does it Cost to Get Bonded in Pennsylvania?

You obtain your bond by paying a surety bond premium. Premiums are not fixed, but are offered by sureties to each applicant individually. The premium is a percentage of the total bond amount of an applicant’s surety bond. In other words, if the state requires you to obtain a $50,000 bond, your premium (or rate) will be a percentage of that sum.

What determines my bond premium?

How high or low your rate is depends largely on your personal credit score. Sureties base their decisions on credit scores because it’s a reliable predictor of an applicant’s financial stability.

Other factors which sureties include in their assessment of applicants are:

• Applicants’ financial statements
• Fixed and liquid assets
• Industry experience and work record

Based on all of these factors, especially your credit score, applicants are asked to pay a particular premium. Those with a high credit score receive so-called standard rates which vary between 1%-4% of the amount of their bond.

But surety bonds are also accessible to those with a low or even nonexistent credit score. Applicants with such score can get bonded at rates that vary between 5%-15% of the total bond amount.

To make an initial calculation of your surety bond premium, try our surety bond cost calculator below. Find out more about how sureties determine rates at our 'surety bond cost' page.

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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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How to Get Bonded in Pennsylvania

Getting bonded is a quick and easy process. Follow the instructions below and we will get in touch with you shortly!

License bond application

To apply for a license bond, use our online application form. Once we receive your application, we will contact you shortly with a free and exact quote on your bond.

Contract bond application

To apply for a contract bond, complete the online application, based on your contract bond type. Once you have completed it, we will contact you with more information about your bond quote.

To learn more about the bonding requirements in Pennsylvania, call our experts at 866.450.3412.

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.