New Hampshire Surety Bond Overview
Surety bonds are required in several different instances in the state of New Hampshire. For example, licensing a business in the state usually involves applying for a surety bond. Similarly, to perform work or even to bid on a public construction project, a contractor may also need to submit one or a number of surety bonds.
What's the purpose of surety bonds?
Surety bonds are basically financial security agreements. They guarantee that the bonded party will comply with the laws that regulate their business activities. If the bonded party, the bond principal, violates these laws and causes losses or damages, a claim can be filed against their bond to secure compensation. In this way, the bond is a form of protection for the parties that request it.
To learn even more about why you need a bond, and how they work, see our detailed 'What is a surety bond' guide!
If you already know which surety bond you’re looking for, find it in the table below.
For more information about getting bonded in New Hampshire, explore the sections that follow.
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".
|Debt Consolidators Bond||State of New Hampshire||Debt Adjuster's||Apply Now|
|Professional Fund Raisers Bond||Dpeartment of Justice Attorney General Office||Paid Solicitor||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Bank Commissoner, Banking Dept||Mortgage Broker||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Bank Commissioner||Mortgage Banker||Apply Now|
|Defective Title Bond||NH Division of Motor Vehicles||Defective Title Bond||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Division of Motor Vehicles - Dealer Licensing Bure||Motor Vehicle Dealer||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Division of Motor Vehicles - Dealer Licensing Bure||Motor Vehicle Dealer||Apply Now|
|Detectives Bond||Department of Saftey||Bond for Private Investigator, Security and Bail B||Apply Now|
|Professional Licenses (All Other) Bond||NH Joint Board of Licensure & Certification||Independent Court Reporter||Apply Now|
|Professional Licenses (All Other) Bond||Town of Woodstock||Town of Woodstock, Reclamation and Environmental P||Apply Now|
|Schools (All) Bond||New Hampshire Post-Secondary Education Commission||Career School Licensing||Apply Now|
|Games of Chance Bond||State of New Hampshire, Racing and Charitable Gami||STATE OF NEW HAMPSHIRE RACING AND CHAROTABLE GAMIN||Apply Now|
|Games of Chance Bond||Racing and Charitable Gaming Commission||Surety Bond for Game Operators in New Hampshire||Apply Now|
|Games of Chance Bond||State of New Hampshire Racing and Charotable Gamin||Charitable Gaming Commission Games of Chance Bond||Apply Now|
|Games of Chance Bond||NH Racing & Charitable Gaming Commission||Manufacturer Pursuant to Chapter 287-E Bond (Bingo||Apply Now|
|Financial Guarantee (All Other) Bond||New Hampshire Banking Department||Sales Finance Company Bond||Apply Now|
|Indemnity (Miscellaneous - Not Listed) Bond||New Hampshire Racing & Charitable Gaming Commissio||Bond of Manufacturer||Apply Now|
|Lottery Bond||New Hampshire Lottery Commission||Daily and-or Weekly Sales Agent Bond||Apply Now|
|Lottery Bond||NH Racing & Charitable Gaming Commission||Lucky 7 Bingo Ticket Seller Bond||Apply Now|
|Telemarketing/Phone Solicitor Bond||State of New Hampshire||Charitable Solicitor||Apply Now|
|Warranty Bond||NH Commissioner of Insurance||Consumer Guaranty Contracts Bond||Apply Now|
Types of New Hampshire Surety Bonds
If you are new to surety bonds, it’s useful to learn more about each bond category. There are three main ones you need to know about:
- License bonds: for businesses looking to obtain a business license in New Hampshire
- Construction bonds: for contractors bidding and working on certain construction projects.
- Court bonds: for specific occasions when a state court may require them.
License and Permit Bonds
License and permit bonds (also known as commercial bonds) are one of the most common ways of regulating different businesses. When you apply for your business license in New Hampshire, you may be required to post a license bond to ensure your business is compliant with state laws and regulations. The license bond will also offer protection to your customers and the state against fraudulent business practices. A customer who feels they have been treated unfairly can launch a bond claim and demand compensation.
Some of the most commonly required license bonds in the state are auto dealer bonds, auctioneer bonds and real estate broker bonds. All freight brokers also need to post a freight broker bond, regardless of their state of operation.
States want to protect taxpayer money and their construction investments, and they use construction bonds for that purpose. Public projects – especially large ones – frequently require contractors to post different types of construction bonds before they can work – or even bid – on a project.
Bid bonds are a type of construction bonds, which a contractor needs to procure when bidding on a project. These bonds guarantee that the contractor will accept the project for the price that won the bidding, if they are awarded the contract. Performance and payment bonds, on the other hand, protect the project in case of contractor default. Subcontractors, laborers, and suppliers are also protected under the latter bond.
Court bonds are relatively less-frequently required. There are two main types of court bonds:
- Appeal bonds, or supersedeas bonds, if you want to appeal a court judgment in front of a higher instance.
- Fiduciary bonds if you are appointed a fiduciary of another person assets or property.
What Is The Cost of a Surety Bond in New Hampshire?
The cost of your bond is equal to a percentage of the total bond amount. The total bond amount listed on each bond is the maximum dollar amount for which a claim can be made against that particular bond. Each state decides the total bond amount for each bond.
When applying for a bond, you are never asked to post the full amount. Instead, the same way insurance works, a bond premium is required to obtain the bond. The higher the risk an applicant poses to the bond provider, the higher their premium will be.
How is the cost of my bond calculated?
The exact cost of the bond is mostly calculated using the applicant’s personal credit score. You may choose to submit additional information that can bolster your application and reduce your premium. Such information includes:
- Personal financial statements
- Business financial statements
- Liquid assets
- Good industry experience
Applicants with high credit are offered standard market rates which are between 1% and 4% of the total bond amount.
Bad credit bonding is somewhat tougher. To compensate for the higher risk, sureties will offer quotes between 5% and 15% of the total bond amount. Yet, by improving your credit score and financials, you can improve your bond rate significantly over time.
If you want to get a quick estimate of your bond premium, use our surety bond cost calculator below.
Surety Bond Cost Calculator
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For even more information about surety bond pricing, check out our surety bond cost page.
How to Get Bonded in New Hampshire
Ready to apply? Follow the instructions below.
License bond application
Apply for your license bond by completing our online application. We will contact you shortly with a free quote and further information.
Contract bond application
Apply for a contract bond by downloading the correct online form, based on contract amount. Forward your completed form to us, and we will soon contact you to complete the bonding process.
Call us at (866)-450-3412 anytime if you want to know more about getting bonded or how to apply!