Popular Surety Bonds in San Antonio, Texas
Overview of San Antonio Surety Bonds
The City of San Antonio may require the following types of surety bonds to be posted by businesses or individuals.
A license bond may be needed when applying for a business license or permit. Such bonds are typically required on a state level but municipalities often have their own additional bond requirements or where the state does not require a bond.
For example, in San Antonio, various contractors need to obtain such a bond when they apply for a license. These are, among others: sidewalk, curbs, and gutters contractors, heating and air conditioning contractors, home improvement contractors, local master electricians and state electrical contractors, plumbing contractors, and sign erectors.
Before they can carry out any work on public projects, some contractors may also be required to obtain contract bonds. These bonds function as a guarantee that contractors will perform in full any work specified in their contract, pay their subcontractors and laborers, and more.
In San Antonio, such bonds may be required when performing work in the public right-of-way as well as for any other type of construction work contracted by the city, pursuant to Chapter 2253 of the Texas Government Code.
Finally, a court bond may also be required when an individual is appointed as a fiduciary or in cases in which a court judgement is appealed.
All these bonds serve the purpose of guaranteeing that the bonded party will comply with the municipal and state regulations, as well as with the particular conditions of their bond agreement. The bonds further guarantee that when these are violated by the bonded business or individual, a claim can be made against their bond to secure financial compensation. Such compensation can be as high as the full amount of the bond, also known as the penal sum.
Want to know more about bonds? Our ‘What is a surety bond’ guide can provide you with detailed information on the subject!
See the sections below for more information regarding the cost of your bond and how to get bonded.
Call us at 866.450.3412 if you have any more questions about the bonding requirements in San Antonio!
Cost of Your Surety Bond
To get bonded you need to pay a bond premium which is only a fraction of the full bond amount.
Surety bond cost is determined by sureties when you apply for your bond. The most important factor that sureties take into account is an applicant’s credit score. They also consider applicants’ financial statements, their liquidity and assets, and even their professional experience.
Applicants with high credit scores of 700 FICO and above are typically given the lowest rates on their bonds. While minimum rates vary between bond types, such applicants can often see a rate as low as 1% or lower.
To request a free quote on your bond, complete our bond application form. Requesting a quote is entirely free and with not additional obligations whatsoever!
Bonds With Bad Credit
If your credit score is currently low and you need to get bonded, you can try our Bad Credit Program!
Only at a slightly higher cost, applicants who have a lower score can get bonded just as easily as all others. And by improving their credit score over time, such applicants can get increasingly better rates on their bond each time they apply for a renewal.
See the program page for more information, and to request a free quote!
Get Bonded Today!
Complete our bond application form to request a free quote on your bond. Along with your quote we will also provide you with additional information on finalizing your application.
Once you finalize your application, it will take about two working days for your bond to be issued. We will then forward a digital copy to you via email and the original via standard mail.
If you have any additional questions about getting a bond in San Antonio, give us a call at 866.450.3412 anytime!