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What is a Surety Bond

A surety bond is a legally binding agreement between three parties - the obligee (the party requiring the bond), the principal (the party required to get bonded), and the surety company. It guarantees to the obligee that the principal will carry out their obligations according to their license or contract. The surety bond is put in place in order to protect the public and the party requiring the bond.
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What Does a Bond Cost?

The cost of a surety bond varies depending on several factors, such the type of bond, the state in which the bond is meant to serve, credit score and more. The actual cost that needs to be paid is a percentage of the total bond coverage and can be anywhere between 1%-15% of the bond amount (for most license bonds).
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How to Get Bonded

If you are new to bonding, here you can learn the in’s and out’s of the bonding process as well as the most important piece of information you will need to provide in order to apply for your surety bond. This information will not just make the process smoother, but it can also help you reduce the cost of your surety bond.
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Surety Bonds vs Insurance

A surety bond is not an insurance. These are two completely different terms. An insurance protects your business, whereas a surety bond protects the public. If you want to get Bonded and Insured, the insurance aspect could refer to Fidelity Bonds, which protect your business from employee dishonesty.
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Surety Bonds FAQ

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.
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Surety Bond Rates

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.
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Getting Bonded and Insured

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.
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Surety Bond Companies

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.
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Surety Bonds vs Bank Letters of Credit

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.
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State Surety Bond Forms Guide

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.
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How to Get a North Carolina Dealer License

Similarly to most other states, North Carolina requires aspiring auto dealers to get licensed. The North Carolina dealer license is issued by the state Division of Motor Vehicles. You need to meet a number of requirements,

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Surety Bond Increase for Illinois Dealers as of Next Year

Auto dealers in Illinois will have to meet new bonding requirements as of January 1, 2018. With Senate Bill 1556, the state enforces higher bond amounts for car sellers. Instead of $20,000, Illinois dealers will

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[Infographic] Fantasy Sports: America’s Growing Passion

The rapid growth of the fantasy sports industry is undeniable and, according to statistics from the Fantasy Sports Trade Association, currently there are 59.3 million players in the U.S. and Canada. This means that 20%

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New Bond Amounts for Cigarette Distributors in New Jersey

Cigarette distributors in New Jersey will soon have to meet new license requirements. The state Division of Taxation adopted revised regulations that change the New Jersey cigarette tax bond amounts. All cigarette distributors and wholesale

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