Mississippi Surety Bonds Overview

Surety bonds are required for several purposes in the state of Mississippi. Many applicants for a business license can expect to be requested to submit a surety bond during the licensing process. Contractors who wish to bid or perform on a public, state or federal construction project are also commonly required to get bonded.

What is the purpose of surety bonds?

Surety bonds are agreements between three parties:

  • The party that is protected by the bond, the bond obligee
  • The party that is required to get bonded, the bond principal
  • The party that issues and backs the bond, the surety bond company

Bond agreements guarantee that the principal will comply with certain conditions, such as specific laws or obligations in relation to the obligees.

If a principal violates the bond agreement and causes losses to the obligees, the bond also functions as protection. It guarantees that a financial compensation, up to a certain dollar amount, will be made available to cover such losses.

To get an even better understanding of how bonds work see our ‘What is a surety bond’ guide!

If you want to go straight to your bond application, use the table below to find the specific Mississippi surety bond you need.

For a complete overview of the different bonds available in the state, see below!

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 Performance & Payment (Local) Bond City of Jackson, Building Permits Division Planning and Development Contractor's Bond Apply Now
Professional Fund Raisers Bond Mississippi Secretary of State's Office Professional Fund Raisers Apply Now
Insurance Adjusters Bond Mississippi Department of Insurance Public Adjuster Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond Dept of Banking and Consumer Finance Mortgage Consumer Protection Law Bond Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond Mississippi Dept of Banking & Consumer Finance S.A.F.E. Mortgage Act Apply Now
Mortgage Lender/Banker (1st & 2nd Mort.) Bond Dept of Banking & Consumer Finance Mortgage Lender Apply Now
Real Estate Agents/Brokers Bond State of Mississippi Real Estate Appraiser Licensing & Certification Bo Apply Now
Small Loan Companies Bond Mississippi Department of Banking Small Loan Companies Bond Apply Now
Auto & Mobile Home Dealers (New & Used) Bond Motor Vehicle Commission New Motor Vehicle Dealer Apply Now
Auto & Mobile Home Dealers (New & Used) Bond Department of Revenue Designated Agent Apply Now
Auto & Mobile Home Dealers (Used Only, No New) Bond Motor Vehicle Commission New Motor Vehicle Dealer Apply Now
Auto & Mobile Home Dealers (Used Only, No New) Bond Department of Revenue Designated Agent Bond Apply Now
Auto & Mobile Home Dealers (Used Only, No New) Bond Department of Revenue Designated Agent Bond Apply Now
Motor Vehicle (Non-Dealer, Not Listed) Bond Commissioner of Insurance Manufactured Housing Apply Now
Professional Licenses (All Other) Bond Auctioneer or Firm License Professional Licenses (All Other) Bond Apply Now
Professional Licenses (All Other) Bond Department of Wildlife, Fisheries, & Parks Department of Wildlife License Agent Bond Apply Now
Professional Licenses (All Other) Bond Mississippi Department of Revenue Gaming Establishment Bond Apply Now
Professional Licenses (All Other) Bond City of Natchez Transient Vendor Bond (City of Natchez) Apply Now
Schools (All) Bond Mississippi Commission on Proprietary School & Col Commission on Porprietary School and College Regis Apply Now
Schools (All) Bond MS COMMISSION ON PROPRIETARY SCHOOL & COLLEGE REG. Commission on Proprietary School and College Regis Apply Now
Alcohol (Retailers) Bond Alcoholic Beverage Control Div. of the Tax Comm. Alcohol (Retailers) Bond Apply Now
Alcohol (All Others) Bond Mississippi Department of Revenue Brewer's Bond Apply Now
Fuel Tax (All Others, Sellers & Users) Bond Department of Revenue Contractor's Job Sales, Use, Income, Franchise, Wi Apply Now
Fuel Tax (All Others, Sellers & Users) Bond Mississippi Contractor's Job Sales, Use, Income, Franchise, Wi Apply Now
Sales, Use & Consumer Tax Bond Department of Revenue Sales Tax Apply Now
Utility Deposit Bond Willmut Gas Co. Natural Gas Service Bond Apply Now
Utility Deposit Bond Pearl River Valley Electric Power Association Electric Service Bond Apply Now
Utility Deposit Bond Central Electric Power Association Electric Service Bond Apply Now
Utility Deposit Bond 4 County Electric Power Association Utility Deposit Bond (4-County Electric Power Asso Apply Now
Utility Deposit Bond Coast Electric Power Association Electric Service Indemnity Bond (Coast Electric Po Apply Now
Telemarketing/Phone Solicitor Bond Mississippi Public Service Commission No Call Program Apply Now
Telemarketing/Phone Solicitor Bond Attorney General Telephone Seller Bond Apply Now
Appraisal Management State of MIssissippi Appraisal Management Company Bond Apply Now

Types of Mississippi Surety Bonds

Depending on what you need to get bonded for, you will need to choose from one of the following three main types of surety bonds:

  • If you are undergoing a business licensing process, you will likely need to obtain a license and permit bond
  • If you are construction contractor, you may need to obtain one or several different contract bonds to work on public or private construction projects
  • If you will be appointed as someone’s guardian or fiduciary as well as in a host of other cases, you will need a court bond

License & Permit Bonds

Many Mississippi businesses need to get a license in order to be in compliance with state, local or city requirements. As a part of the licensing, you might be asked to get a license and permit bond.

The authorities that ask for such a bond include this requirement in order to protect the general public from potential misuse and fraud that businesses might commit.

The bond acts as an extra guarantee that your company will act lawfully. In case you violate the rules, an affected party can make a claim on your bond. Proven claims provide financial compensation to the claimant, up to the penal sum of the bond.

Some of the most commonly obtained license and permit bonds are the auto dealer bond, the contractor license bond, and the freight broker bond.

Contract Bonds

Contract bonds are another type of commonly used bonds. They are required when you are bidding for private and public construction contracting work. Their application is project-based.

The goal of contract bonds is to safeguard the interests of project owners. They guarantee you will fulfill your contractual obligations, and will meet all necessary deadlines and quality requirements. The usual contract bonds that are needed for project bidding include:

  • Bid bonds
  • Performance bonds
  • Payment bonds
  • Maintenance bonds

Court Bonds

For some particular cases, a state or local court might ask you to post a court bond. The typical situations in which you would need such a bond include:

  • If you want to bring a court case to an appellate court, you might need to obtain a supersedeas bond, also known as an appeal bond
  • A state probate court can require that you post a fiduciary bond if you are nominated as a fiduciary, which is a guardian of another person’s property or assets

If you need any further clarification about the different types of bonds in the state, call us at (866) 450-3412!

What’s the Cost of a Surety Bond in Mississippi?

While the amount of the bond that you are required to post might seem considerable, this is not your actual surety bond price. The bond amount is the maximum penal sum that can be repaid to affected parties on proven claims.

The surety bond cost on the other hand, is only a fraction of this sum. It is also called the bond premium and is set by the surety which issues the bond.

How is the exact amount of the premium determined?

The specific bond premium for your case is set on the basis of certain personal and business indicators. Your surety will primarily examine your personal credit score, but may also look at your overall financial situation, and the stability of your business. The stronger your finances are, the lower your bond price will be.

The typical criteria, apart from credit score, that are considered are:

  • Business finances
  • Assets and liquidity
  • Professional experience

Applicants with high credit scores are typically offered a premium between 1% and 4% of the full bond amount. Those who have low credit are bonded at a rate between 5% and 15%. This is because applicants with lower credit are considered a higher risk by sureties.

If you’d like to get an estimate of the cost of your bond, try our surety bond cost calculator below!

+ -
+ =

Surety Bond Cost Calculator

* This form is for a rough estimate only.

Tell us where to send you your FREE estimate

SEND ME MY ESTIMATE!

We'll never share your information with third parties

Back to Surety Bond Cost Calculator

Thank you for your request!

The ballpark estimate on your premium is: $100 - $167

We've send a copy of your estimate on your email as well.

Want an exact quote? Simply fill out our online application It's fast and 100% free!

Get a free exact quote Get another estimate

For even more detailed information, you can head to our surety bond cost page.

How to Get a Surety Bond in Mississippi

To get started with your bond application, follow the instructions given below.

License bond application

If you need to obtain a license bond, complete the online bond application, and we will contact you with a free and precise quote on your bond. Processing times for these applications are short, so you can expect to hear from us soon.

Start your surety bond application today! Why us?
  • Quick turnaround - just 1-2 business days
  • Tailor-made advice on building a strong application
  • Exclusive bad credit programs

Contract Bond Application

If you need a contract bond, download the correct contract bond form based on the amount of the contract for which you need to get bonded. Complete and send the bond to us for processing and review. We will contact you shortly with further details about getting bonded.

If you have any questions about the bonding requirements in the state or need assistance with your application, call us at (866)-450-3412 to receive assistance from one of our professionals!

Further Reading


About the author:
Todd Bryant
Todd Bryant is a graduate of Germantown Academy and the University of Pittsburgh College of Business Administration Honors College. He has been President of Bryant Surety Bonds, Inc., an A+ rated Business with the Better Business Bureau, since 2007. Licensed as a producer with the Department of Insurance, he has been published in the National Association of Surety Bond Producers newsletter and on numerous authoritative publications such as The Washington Post, Entrepreneur.com, Azcentral.com and many more.