When Do I Need a Surety Bond In Montana?
Surety bonds safeguard the interests of the state of Montana and the general public by providing protection against fraudulent activities committed by individuals and companies.
The three main types of surety bonds are license and permit bonds, construction bonds, and court bonds.
Starting a business in Montana often requires that you post a license and permit bond, so that you can obtain your license and guarantee that you follow all relevant rules governing your field.
In case you are a construction contractor who wants to participate in public or private construction projects, you might be required to get construction bonds like performance bond, payment bond or bid bond.
You may need to obtain court bonds in certain situations, when required by a Montana court.
For an in-depth explanation of how bonds work, see our 'What is a surety bond' guide!
Most Popular Surety Bonds In Montana
Already know what kind of surety bond you need? Find it in the table below and follow the application link to request your free quote.
If you have any questions, don’t hesitate to call us at (866)-450-3412!
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 Whitefish Public Works Dept.||(Whitefish, MT) Public Works Contractor License Bo||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Division of Banking and Financial Institutions||Mortgage Broker Licensee Bond||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Division of Banking and Financial Institutions||Mortgage Lender||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Division of Banking and Financial Institutions||Mortgage Lender License Bond||Apply Now|
|Title Insurance Agents & Escrow Officers Bond||MT, Division of Banking and Finacial Instatutions||Escrow Business Bond||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Title and Registration Bureau||Motor Vehicle Dealer||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Title and Registration Bureau||Motor Vehicle Dealer||Apply Now|
|Professional Licenses (All Other) Bond||Dept of Labor: Board of Private Security||Process Server/Levy Officer||Apply Now|
|Professional Licenses (All Other) Bond||Montana Dept of Transportation Motor Fuels Section||Special Fuel User (Contractor) Bond||Apply Now|
How Much Does a Surety Bond Cost?
The surety bond amount is the maximum penal sum that can be paid to affected parties on proven claims. Your surety bond cost is, in fact, only a percentage of that amount, which is commonly referred to as the bond premium. One of the most important factors that are considered in formulating your premium is your personal credit score.
The typical percentages for applicants with high credit are between 1%-4% - so-called standard market rates. Rates for applicants with lower scores range between 5% and 15% due to the higher risk that sureties assume when bonding such applicants.
For an estimate of your bond price, try our surety bond cost calculator below.
Surety Bond Cost Calculator
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How to Get a Surety Bond in Montana?
To get bonded in Montata, you will need to apply online by completing our simple online form. Once you submit the form, we get in touch with you with more details on your bond quote.
Our team of bond specialists is here to help with your application and bonding. You can call us at (866)-450-3412 to receive assistance.