Michigan Surety Bonds Overview
As one of the best surety bond producers in the industry, Bryant Surety Bonds is able to provide you with every type of Michigan surety bond required.
We underwrite highly secure bonds at exclusive and competitive rates and pride ourselves on working only with A-rated and T-listed surety bond companies. We have extensive experience with underwriting surety bonds in Michigan and are well acquainted with all state requirements for surety bonds. We also offer applicants who can’t place a bond due to bad credit the possibility to get bonded in Michigan through our special bad credit programs.
Read on to find out more about Michigan surety bonds, how much your surety bond will cost and how you can get bonded with less-than-perfect credit score.
If you already know what you are looking for, just scroll through the list below and follow the application link to receive a quote on your bond.
Find the Bond You Need
The table below contains a list of only the most popular surety bonds. If you can't find yours, fill out our online application and select "Not in the list".
|Contractor License (No P&P Language) Bond||Michigan Dept. of Licensing and regulatory Affairs||Residential Builder and/or Residential maintenance||Apply Now|
|Contractor License (No P&P Language) Bond||Dept of Licensing and Regulatory Affairs||Security Alarm Contractor Bond||Apply Now|
|Contractor License Performance & Payment (State) Bond||Dept of Licensing & Regulatory Affairs Lic. Div.||Residential Builder and/or Residential Maintenance||Apply Now|
|Excess Weight, Other Highway & Street Permit Bond||City of Detroit,County of Wayne, State of Michigan||Uniform Bond||Apply Now|
|Collection Agency Bond||Bureau of Commercial Services, Licensing Division||Collection Agency||Apply Now|
|Collection Agency Bond||Department of Insurance and Financial Services||Non-Depository Sales Finance Company and/or Out-O||Apply Now|
|Collection Agency Bond||Department of Insurance and Financial Services||Depository Financial Institution - Sales Finance C||Apply Now|
|Professional Fund Raisers Bond||Departent of Attorney General-Charitable Trust Sec||Uniform Professional Fund Raiser Surety Bond||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||OFIR||Mortgage Lender||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Office of Financial and Insurance Services||First Mortgage Broker, Lender, and/or Servicer Bon||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Office of Financial and Insurance Regulation||Mortgage Loan Originator - Individual||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||OFIR Consumer Finance Section||Mortgage Loan Originator - Company||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Commissioner, Office of Financial & insruance||SECOND Mortgage Broker, Lender, and/or Servicer||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Office of Financial and Insurance Services||Bond - FIRST Mortgage Broker, Lender, and/or Servi||Apply Now|
|Mortgage Broker (2nd Mortgages Only) Bond||Office of Financial and Insurance Regulation||Second Mortgage Broker, Lender, and/or Servicer||Apply Now|
|Defective Title Bond||Michigan Department of State||Vehicle Uniform Bond||Apply Now|
|Defective Title Bond||State of Michigan||Manufactured Home Uniform Bond||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Department of State||Uniform Vehicle Dealer||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Department of State||Motor Vehicle Dealer||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Michigan - Department of State||Uniform Manufactured Housing Retailer's Bond||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Dept of Licensing and Regulatory Affairs||Uniform Manufactured Housing Retailer's Consumer D||Apply Now|
|Sport Permits Bond||MI Department of Licensing and regulatory Affairs||Unarmed Combat License Bond||Apply Now|
|Detectives Bond||Dept. of Licensing and Regulatory Affiars||Security Guard Agency||Apply Now|
|Detectives Bond||Michigan Department of Energy, Labor and Economic||Professional Investigator or Professional Investig||Apply Now|
|Employment Agencies Bond||State of Michigan||Professional Employer Organization Bond||Apply Now|
|Professional Licenses (All Other) Bond||Michigan Department of State||Information Purchaser's Uniform Surety Bond||Apply Now|
|Professional Licenses (All Other) Bond||State of Michigian||Deferred Presentment Service Provider Bond||Apply Now|
|Professional Licenses (All Other) Bond||Michigan Dept of Licensing and Regulatory Affairs||Alarm Business Bond||Apply Now|
|Professional Licenses (All Other) Bond||City of Lansing||Door to Door Sales Bond (City of Lansing, MI)||Apply Now|
|Schools (All) Bond||Michigan Department of State||Driver Education Provider||Apply Now|
|Schools (All) Bond||Mich Dept Energy, Labor, Economic Growth||Office of Postsecondary Services - Proprietary Sch||Apply Now|
|Schools (All) Bond||State of Michigan-Board of Cosmetology||School of Cosmetology||Apply Now|
|Schools (All) Bond||Michigan Department of State||Basic Driver Improvement Course Sponsor Bond||Apply Now|
|Alcohol (Manufacturers, Warehouses, Wholesalers) Bond||Michigan Liquor Control Commission||MLCC Non-Retail License||Apply Now|
|Alcohol (Retailers) Bond||MLCC - MICHIGAN LIQUOR CONTROL COMMISSION||Retailer or Applicant for Retail License Bond||Apply Now|
|Alcohol (Retailers) Bond||MI Department of Licensing and Regulatory Affairs||Special License for Sale of Beer, Wine, and Spirit||Apply Now|
|Utility Deposit Bond||Consumers Energy||Bond Guaranteeing Payment of Utility Bills||Apply Now|
|Money Transmitter Bond||Office of Financial Services||Money Transmission Services Provider Bond||Apply Now|
Types of Michigan Bonds
Your type of Michigan surety bond depends on what you need a surety bond for. Do you need a license bond in order to get your business licensed in the state or do you need a contract bond for a construction project? Consider the different types of Michigan surety bonds below.
Michigan License & Permit Bonds
Business licenses are often issued only under the condition that applicants obtain a license and permit surety bond. Such bonds guarantee that businesses will adhere to state regulations for their license. They also guarantee that they will conduct business honestly and according to best practices in their industry.
We receive the most requests for Michigan license bonds such as the Michigan auto dealer bond or the Michigan mortgage broker bond as well as freight broker bonds. We also underwrite all other types of license and permit bonds in Michigan, depending on your business license.
Bond amounts for license bonds vary from state to state and from bond type to bond type. The Michigan auto dealer bond has to be in the amount of $10,000, while the $75,000 freight broker bond has the same amount throughout the whole country.
If you are not familiar with how surety bonds are priced, don’t worry about these amounts. The amount of your Michigan surety bond is not the same as the cost of obtaining it. Have a look at the section below on surety bond cost in Michigan to understand the difference.
Michigan Contract Bonds
Bryant Surety Bonds underwrites all types of contract bonds required for bidding on or working on a construction project in Michigan. Contract bonds are a strict requirement under most federal and state construction projects and are also required on many private projects.
Contract bonds guarantee that contractors will comply with the conditions set forth in their contract with the project owner, and perform according to regulations.
Michigan Court Bonds
Court bonds are surety bonds which are often requested by courts. For example, a Michigan appeal court could request an appellant to obtain a court bond prior to being able to appeal a judgement. A Michigan probate court can also request a fiduciary to obtain a fiduciary bond. We can underwrite all types of Michigan court bonds for you.
Do you have questions or doubts about which Michigan surety bond you need? Feel free to call us at (866)-450-3412 anytime to speak to one of our surety bond experts and receive advice and guidance.
Surety Bond Cost in Michigan
The amount of your Michigan surety bond and the cost of your bond are closely related. To determine the rate of your bond, surety bond companies take into account the amount of the bond and different financial factors. Depending on the type of bond (license, contract or court bond) fewer or more factors may be considered.
For example, the Michigan auto dealer bond’s full amount is $10,000. This is the coverage amount that the surety bond company can extend to obligees if there is a claim against the bond.
The cost of your bond is the sum you will have to pay to obtain this bond. This cost is also known as your premium or your surety bond rate. To determine your rate, the surety bond company will most often first look at your personal credit score.
When determining the cost of your Michigan surety bond, a bond company may also want to assess your:
- Financial statements
- Industry experience
- Your business’s overall stability
- Other financial factors
If you have a high personal credit score, you will usually be offered a rate between 1%-4% of the total bond amount. These rates are called standard market rates. Applicants who have less than perfect credit usually are offered rates between 5%-15% of the total bond amount.
We have devised our Bad Credit Surety Bond Program specifically for those applicants with less-than-perfect credit scores. While a low credit score is usually perceived as a significant risk to bonding, we are able to underwrite Michigan surety bonds to such applicants, though at slightly higher rates.
For a ballpark estimate of the cost of your Michigan surety bond, try our surety bond calculator in the right sidebar. For a precise and entirely free quote on your bond, simply fill in our online form.
Want to know more about what determines the rate of your surety bond? Make sure to visit our Surety Bond Cost page.
How to Get Bonded in Michigan
Once you know what kind of bond you need, you can go ahead and get bonded. Getting your surety bond is simple and straightforward. Just follow one of the two links below, depending on the type of Michigan surety bond you will be applying for.
If you need to obtain a Michigan license and permit bond, you need to fill in our online application form. Once you have submitted your application we will get in touch with you with a free quote on the bond you have requested. Depending on your bond, we may ask you to provide us with more documentation before we underwrite it. However, most bonds are instantly approved online.
When applying for a Michigan contract surety bond, there are two application forms depending on the amount of your bond.
Our Fast Track Program applies to you if your contract bond is under $250,000.
For contract bonds over $250,000 you will have to use our Full Bond Line Project application form.
To apply for a contract bond, download and fill in the application form for your contract bond and just forward it to us. Soon after we receive your form, we will contact you with more information.
If you would like to speak to one of our surety bond experts before applying, you can always call us at (866)-450-3412. We are experts in all types of Michigan surety bonds and can provide you with all the information you need.
To understand better what is a surety bond, read our dedicated section for more detailed and useful information. This page is full of useful information about the types of surety bonds, how they work and when do you need to post one.