New Jersey Surety Bonds

Surety Bond Cost in New Jersey

The New Jersey surety bond amount that you must post, and the actual surety bond cost are two different things. The bond amount is the penal sum, which represents the maximum compensation that can be offered to affected parties in case of proven claims. The surety bond cost, on the other hand, is only a percentage of the bond amount. Also called a premium, this cost is usually between 1%-4% for the standard bonding market.

For example, if you need to obtain a $10,000 bond to get licensed as a motor vehicle dealer in New Jersey, you won’t have to pay the whole amount. You’ll have to pay only a small percentage of it, the bond premium.

The actual cost of your specific bond will vary, depending on the bond amount required from you, as well as on your financial stability. When you apply for your New Jersey surety bond, the surety will make a thorough assessment of your business and financial indicators. Your personal credit score is one of the most important factors. On this basis, the surety will set the bond premium, which reflects the perceived risk of getting you bonded.

Other factors that matter in the formation of your bond cost are:

• Financial statements
• Your industry experience
• Assets and liquidity
• Other relevant financial indicators

You can get an estimate of your bond cost through our surety bond cost calculator below. For an exact quote, go ahead and start your application. We’ll send you your free New Jersey surety bond quote shortly.

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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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Use the table below to search for your specific New Jersey surety bond.

Can’t find your bond? No problem! Call us at 866.450.3412 and our surety bond experts will find it for you.

Bad Credit Program

Calculating your bond premium is fairly simple when you qualify for the standard bonding market. But even if your credit score is not perfect, you can still get bonded with Bryant Surety Bonds’ Bad Credit Surety Bond Program.

Bad credit applicants are considered risky because of their financial stats, and they have often a difficult time obtaining the bond they need. That’s why we created this program together with our excellent surety partners.

Getting bonded in New Jersey with bad credit means you are likely to pay a bit more for your New Jersey surety bond - between 5% and 15% of the bond amount. The higher premium is needed to mitigate the risk involved. Still, the bad credit program gives good opportunities to applicants with problematic finances to get the bond they need to stay in business, while not making any compromise with the quality of the bond’s backing.

Types of Surety Bonds in New Jersey

Here at Bryant Surety Bonds, we are licensed to underwrite any type of New Jersey surety bond that you need.

• For businesses that have to get bonded as part of their licensing process, we provide the whole range of license and permit bonds required in the state.
• If you are a contractor in New Jersey, we can also underwrite the exact type of contract bond that you need.
• In case you have to furnish court bonds, we can underwrite those for you too.

For any questions related to the type of bond you need, don’t hesitate to call us at 866.450.3412.

Below you can find detailed information about each type of bonds.

New Jersey License & Permit Bonds

Many businesses are required to post a license and permit bond when applying for their license with a state, local, or city authority. In some cases, the licensing requirements are the same across the country, but usually the conditions differ depending on your industry and the local rules that regulate it.

The purpose of license and permit bonds is to protect the obligee, which is the authority requiring the bond, and the general public. In case you don’t abide by the applicable rules that govern your business, or you engage in harmful or fraudulent activities, the New Jersey surety bond will compensate them for the financial harm.

Some of the most popular New Jersey license bonds include:

• New Jersey auto dealer bond

Obligee: State of New Jersey Motor Vehicle Commission

Bond amount: $10,000 for new and used motor vehicle dealers

Expiration date: Coinciding with the licensing year

• Freight broker bond

Obligee: Federal Motor Carrier Safety Administration

Bond amount: $75,000

Expiration date: Coinciding with the licensing year

• Mortgage broker bond

Obligee: Nationwide Mortgage Licensing System

Bond amount: $150,000

New Jersey Contract Bonds

When working on specific construction jobs as a contractor, you will likely be required to obtain specific contract bonds that pertain only to the project at hand. This is usually the case for licensed contractors who want to bid and work on private and public construction projects.

Contract bonds guarantee your faithful performance and abiding to all contractual obligations. They are usually one of these types:

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

New Jersey Court Bonds

Less often, you might be required to post a court bond, and Bryant Surety Bonds can help you in this case too.

The most common situations when you’d need court bonds include:

• If you want to bring a case to an appellate court, you’ll likely be required to obtain a supersedeas bond, or appeal bond, which is a type of court bond.
• If you’re appointed as a fiduciary, or guardian of someone’s assets or property, a New Jersey probate court will ask you to supply a fiduciary bond.

How to Get Bonded in New Jersey

Ready to start your bonding process? Make sure to refresh your knowledge with our useful page explaining what is a surety bond.

Getting your New Jersey surety bond is a rather straightforward process. Your first step is to apply online, following the instructions on the page. Make sure to prepare all relevant documents and send them over to us along with your application.

When we have your full application, we will make an assessment and deliver your free, no-obligations bond quote in no time.

The final step is to purchase your New Jersey surety bond, make a copy for future reference, and send over the original form to the authority that requires the bond.

If you have any questions about the application, documents, or bonding process in general, we’d be happy to help you! Just call at 866.450.3412 to speak with one of our bonding experts.

Why Choose Bryant Surety Bonds?

Here at Bryant Surety Bonds, we are committed to providing outstanding bonding rates. Because of our excellent integrity and connections, we are able to underwrite your bond whether you have good credit, bad credit, or no credit at all.

We represent multiple renowned A-rated and T-listed surety bond companies, which gives us access to various markets for all kinds of New Jersey surety bonds. This allows us to offer exclusive rates for our clients, whatever their financial status is.

Liberty Mutual Insurance, Washington International insurance Company and International Fidelity Insurance Company are just a few of our partners. Getting bonded with us means your business is secured by the most trusted surety companies.

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.