Education Center

There are different categories of surety bond such as license bonds, contract bonds and court bonds. Find out all you need to know about them!

If you can't find the answers you need, visit our FAQ page where we try to answer all common and uncommon surety bond questions. We cover a few main categories of questions related to bond pricing, the application process, surety bond issuance, and bond renewals.

The surety bond rate is the percentage that needs to be paid from the total bond amount. Learn more about bond rates, the main factors determining your bond rate and how it varies across different types of surety bonds.

When starting a new business, one of the most important steps is getting bonded and insured. This page serves as an explanation for the process of becoming insured and bonded, however you can reach out to us directly with any additional questions.

Whenever you’re asked to obtain a surety bond, you will need to make sure it is backed by a reliable surety bond company at the best price possible. Getting bonded with the wrong company can cause higher annual bond rates, delays, or even leave you with a surety bond which is not backed. Learn more how to determine whether the company that supplies your bond is reliable.

The penal sum of your bond, also known as the total bond amount, refers to the maximum compensation you may owe under the bond's agreement. The penal sum only applies if there is a valid claim against you.

Surety bonds have many advantages over a bank letter of credit, such as coverage, cost, duration and guarantee the completion of a project. Lean more about the difference between surety bonds and bank letters of credit.

Are you searching for a specific surety bond form? Read on how you can find the bond you need. If you still have questions, you can always contact us and we will be happy to help out.

It's a standard practice in the surety for the prinicpal to sign an indemnity agreement with the surety. The indemnity agreement guarantees that the surety will get reimbursed if it has to extend compensation to claimants on behalf of the principal.

Sometimes principals need to change the information on their bond form, whether it's because they made a mistake or because there's a change that needs to be reflected, such as a name or address change. In cases like this, you need to get a bond rider.

The term "indemnity bond" refers to a category of bonds condititioned upon one party's compliance with certain obligations or contract terms. Most types of license bonds fall in that category.

Financial guarantee bonds is an umbrella term for a category of bonds conditioned upon one party's paying taxes, fees, penalties and other finanical obligations to another party.