What is a License Bond?
A license bond, also known as a license and permit bond or commercial bond, is a type of surety bond that is usually required by state governments for businesses who need to get licensed. Examples of license bonds include contractor license bonds, and auto dealer bonds.
The role and function of license bonds is to guarantee that a business will comply with state regulations pertaining to their license. It provides the state and the public with financial protection against businesses who commit theft, fraud or other illegal practices and do not comply with regulations and standards.
Different states require different businesses to get licensed and bonded. Whether you need to get licensed and bonded depends on your state’s Licensing Board and the regulations that apply to your business. If you need to get bonded, you will need to obtain a license bond through a surety agency by paying a yearly premium.
To find out more about license bond cost see the section below.
License Bond Cost
The cost of your license bond depends on its amount - the penal sum of the bond. Some bonds, such as the $75,000 freight broker bond, have a fixed amount throughout the whole country. Others, such as the auto dealer bond, are required in all states but the bond amount varies from state to state.
The cost of your bond is a fraction of the surety bond amount, which is determined by sureties as they review your application. Depending on your financial status, you may receive a higher or lower rate on your license and permit bond. Sureties examine your credit score the most when determining your rate. The higher your credit score, the lower your rate.
For a ballpark estimate of your license bond’s cost, try our surety bond calculator on the right. If you’d like to receive a precise quote, follow the application link and submit your application. We’ll respond with a precise quote on your license bond.
Bad Credit License Bond Program
Many license bonds are still available to applicants with a lower credit score. Through our Bad Credit Surety Bond Program, it is possible for these applicants to get bonded, and to do so at good, though slightly higher, rates.
We have access to numerous markets that offer bonds for bad credit applicants. We work only with A-rated and T-listed surety bond companies whose backing is highly secure and reliable. If you want to know whether you can get bonded with bad credit, gives us a call at (866)-450-3412!
You can look for your bond below or, alternatively, you can submit our online application and our agents will help you get bonded.
Types of License Bonds
Bryant Surety Bonds underwrites all types of license and permit bonds in all 50 states! To find the bond you need, scroll through the list below and follow the link to its page.
Agricultural dealers in some states may require to post an agricultural bond as part of their licensing process.
As per the Code of Federal Regulations, individuals and companies with access to airport customs security areas are required to post this bond to ensure compliance with customs regulations.
Airlines Report Commission Bonds (ARC bonds) are required by the Airlines Report Commission and they guarantee that travel agents will pay for airline tickets to the proper airlines.
Auctioneer bonds are required as an extra layer of protection for the public and the state. They make sure auctioneers comply with applicable regulations and conduct business in a lawful way.
It is not uncommon in the industry for a bond to have several different names, and this bond is a perfect example. The motor vehicle dealer bond is also known as: a used car dealer bond, MVD bond, auto dealer bond, and DMV bond.
Our application for those with bad credit is now completely online. This application allows us to give you quotes and approvals instantly.
Securities dealers in some states are required to get bonded. The bond ensures compliance with the states's blue skies laws.
A variety of optional bonds businesses can obtain in order to better protect themselves and their clients from fraud or employee embezzlement.
A surety bond designed to protect car wash employees in California and New York City.
Bonding companies closely scrutinize any financial guarantee surety bond as they view them as a high-risker risk bond.
A bond required of collection agencies by the state in which they operate that guarantees the agency license.
A surety bond protecting an owner's property when it's given to someone else to operate on.
A surety bond guaranteeing that the contractor will adhere to all state statutes and licenses.
A bond guaranteeing CSOs comply with applicable regulations in their state.
Required by the U.S. CBP agency, customs bonds guarantee the work of importers, carriers and warehouse or facility operators is conducted according to regulations.
A bond required for DMEPOS Suppliers/manufacturers by the federal government.
Military freight carriers need to post this bond before they can register with the SDDC.
A bond requried from driving schools in a number of states.
Electrical contractors in several states need to get bonded when applying for a license.
A bond required from employment agencies in some states, designed to protect job seekers.
An increasing number of states requries this type of surety bond from fantasy contest operators to ensure the interest of players are well protected.
Federal Housing Authority Bond: A look at the Bill curently up for vote in the senate that may allow for a surety bond in place of audited financials"
A bond guaranteeing the employers assets in the event an employee should cause damage through a negligent or dishonest act.
This bond is required by the Florida Department of Business and Professional Regulation as part of the licensing process for financially responsible officers.
Formerly known as the Interstate Commerce Commission bond, or ICC Bond, the Freight Broker bond is required to legally operate as a transportation broker.
A bond required by the government that guarantees payment of fuel taxes by sellers.
A bond that guarantees that funeral homes will fulfill all pre-paid funeral arrangements.
A state required bond of health clubs and other organizations that have monthly membership fees.
If you want to get licensed as a home improvement contractor, you will need this bond in several states. "
A bond authorizing the licensee to operate as an insurance broker.
The bond ensures that entities that provide financial or investment advice do so in an ethical way and in compliance with all relevant regulations.
Required by legal document assistants in California to ensure compliance with the Business and Professions Code.
This bond is required by the government to participate in the sale of liquor.
If you lose a financial instrument, this type of bond might be required in order to have it replaced.
A bond required by the state for any facility with a lottery machine.
A license or permit bond that is necessary in order to participate in the sale of manufactured homes. The federal government requires this bond.
Several states require mileage tax bonds from motor carriers who use public highways. The bond ensures that carriers will pay highway use tax and other outstanding debts to the state.
A license bond required by the state.
The Mortgage Banker Bond, or Mortgage Lender Bond, guarantees that the banker will operate by the terms and conditions of the stat in which they are operating.
The mortgage broker bond is a type of license bond, which guarantees that the mortgage broker will operate accoridng to the state statutes and licenses.
Oil and gas well operators will frequently need to get bonded before they are given a permit in their state.
Required by the Federal Maritime Commission to guarantee OTIs comply with applicable regulations.
This bond guarantees patient trust funds are protected and well-managed by nursing homes.
A bond assuring the legal operation of the loan company.
Many states require this type of bond in order to better protect the property pawned by pawnbrokers' customers.
This bond is also known as a Telemarketing Bond.
This bond is required from plumbers as part of the licensing process in many states.
Also known as a detective agency bond, this surety bond makes sure private investigators are compliant with state regulations.
Required in over 15 states from professional fundraisers and solicitors as part of their licensing process.
Protects the public against fraudulent actions on part of public adjusters.
The public official bond is a type of license bond which guarantees the complying of certain governments officials with the respective government laws and regulations.
A surety bond making sure licensed real estate brokers comply with state and federal statutes and do not use fraudulent practices.
To perform vehicle registration service in the DMV, you will need to obtain this bond.
A bond assuring roofers will meet all state statutes and licenses.
A bond required of various private schools.
A bond for sellers of travel. This bond is different than an ARC bond.
Protect customers of surplus liners broker against fraud.
This surety bond protects the clients of talent agencies against fraud.
The sales tax bond guarantees that a business will pay sales tax to the government.
Required from individual wishing to obtain a tax preparer license in California.
A bond required by the state government to operate a telemarketing business.
Third parties in some states must obtain this bond before they can get licensed and be allowed to legally operate within the state.
A bond that guarantees the lawful performance of a title agent.
The Title Bond, also known as a Lost Title Bond, is required when you want to transfer or sell a vehicle and you don't have a title for it.
A bond that guarantees payment for a shipment to any of the 50 states.
Also known as wage and welfare bonds, this bond assures the faithful payment of union dues for a specific location.
Please see the motor vehicle dealer bond page for more information. Often times the surety industry has many names for the same bond. In this case, used auto dealer bonds, MVD Bonds, auto dealer bonds, and DMV bonds are all the same thing.
A surety bond required by utility companies which guarantees that the principal will pay the utility company in time.
This bond is required from vehicle verifiers in California. It guarantees their compliance with the California Vehicle Code (CVC).
Also known as union bonds, these bonds assure faithful payment of union dues for a specific location.
This is a type of license bond guaranteeing that nail salon emplyees receive their payments regularly.
Required by some state to ensure warehouse owners comply with regulations concerning the storage of certain goods.
Transporting large loads of waste tires will often require that you get registered in your state and post a waste tire hauler bond.
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