Georgia Surety Bonds

City Requirements

What is a Georgia Surety Bond?

A surety bond is a binding contractual agreement between three sides: a principal, an obligee and a surety. The principal is the one who needs to post the bond, while the obligee usually is the state government or a state agency which requires it. The third side, the surety, backs the agreement and assumes responsibility in case the principal breaches the contract.

To find whether you need a surety bond in Georgia, read on below about the different types of bonds in the state, what your surety bond rate will be and how you can get bonded.

If you know what bond you need, you can search for it in the table below.

Types of Surety Bonds in Georgia

Based on their purpose, surety bonds in the state can be separated into the following three main categories.

License and Permit Bonds

If you are looking for a surety bond in Georgia, it probably belongs to this category. License and permit bonds are required from a number of businesses as part of their licensing and license renewal procedures. In most cases they need to remain in force for as long as the business is active.

Auto dealers, contractors, freight brokers, money transmitters and telemarketers are just some of the businesses that are required to post a surety bond. The purpose of each bonds depends is specific, but typically the purpose is to provide a safety net for both customers of the business and the state.

Contract Bonds

A contract bond can be required of construction contractors working on a public project owned or funded by the state of Georgia. There are several types of contract bonds. They protect against contract breaches, such as defaulting on a project, and provide a mechanism through which subcontractors, suppliers and laborers can get compensated in case of contractor default or non-compliance.Many private construction projects may also required contractors to obtain a contract bond.

Do not confuse contract bonds with contractor license bonds. These are bonds that contractors need when applying for a license in their state or county.

Court Bonds

Sometimes required by businesses or individuals, court bond serve different purposes. Fiduciaries or appellants in Georgia courts are often required to post court bonds as part of the requirements of appellate or probate courts and for the protection of the public.

How Much Does it Cost to Get Bonded in Georgia?

How much your surety bond will cost is determined on the basis of the bond’s full amount. Each surety bond has a total amount, determined by the state, which puts a cap on the maximum sum of the claims that can be made against it. Out of that total amount, principals pay a premium which is a percentage of the full amount.

Here are the total bond amounts of some commonly required bonds in the state:

• Contractors license bonds: $25,000 (plus varying requirements by location)
• Used Car Dealer Bonds: $35,000
• Private Detective and Security Agencies Bonds: $25,000
• Mortgage Broker/Lender Bond: Starts at $50,000
• Appraisal Management Company Bond: $20,000

Factors that determine your premium

How much you pay to obtain your bond can vary depending on the type of bond you are applying for as well as a number of financial factors that the surety takes into account. Your personal credit score is the most important factor determining your surety bond cost. Other factors that sureties consider when determining the cost of your Georgia surety bond are:

• Personal and business financial statements
• Your personal industry experience
• How long your business has been operating
• Further financial and business factors

Bad Credit Surety Bonds

Most applicants who have bad credit will still be able to get bonded, though at a slightly higher premium - between 5% and 15%.

While this is mostly true for license bonds, contract bonds are considered too high-risk, which is why most underwriters don’t sign contract bonds for bad credit applicants.

To get a ballpark estimate on your Georgia surety bond, try our surety bond calculator below. If you would like to get a precise quote on your bond, follow the application link and you we will contact you with further details.

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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

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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 have further questions about how surety bond rates are determined, visit our surety bond cost page, which will provide you with detailed information.

How to Get Bonded in Georgia

The application process is simple and straightforward. There are two different application forms, depending on what kind of bond you need to obtain.

License Bonds Application

To apply for a license bond, you can complete the online application. Shortly afterwards we will contact you with your free quote as well as further information about what else you need to do to get bonded. Depending on the bond you need, we may ask you to submit a few additional documents before issuing it. Applying takes only a few minutes.

Contract Bonds Application

You can apply for a contract surety bond via our online application. We will contact you soon thereafter with more details about your bond.

If you need to consult yourself with someone before you apply call us at 866.450.3412 anytime! Our knowledgeable experts will be able to tell you everything you want to know about your Georgia surety bond.

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.