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Wisconsin Surety Bonds Overview
Bryant Surety Bonds can obtain a bond for you in Wisconsin with our nationwide bonding program. We work with a number of A-rated and T-listed Wisconsin surety bond companies, that provide us with exclusive rates on all Wisconsin surety bonds.
We write bonds for clients with all types of credit– good and bad– and even for those with no credit at all. Our clients with low credit scores can still get bonded through our Bad Credit Surety Bond Program. If you want to know more, see the section on surety bond cost for more information.
If you’re ready to apply for your bond right away, simply use the table below to find the Wisconsin surety bond you need. Once you’ve found your bond, just click ‘Apply’ and you will be forwarded to our application form.
You can read more about Wisconsin surety bonds prior to applying, by scrolling to the sections below. There you can find detailed information about the different types of surety bonds we underwrite in Wisconsin, how much it costs to obtain a bond, and how you can get bonded in Wisconsin.
Types of Surety Bonds in Wisconsin
Bryant Surety Bonds underwrites all possible types of Wisconsin surety bonds. We underwrite Wisconsin license bonds (also known as commercial bonds) for businesses who need them to get licensed in Wisconsin. Wisconsin contract bonds, such as bid and performance bonds, are also among the surety bonds we underwrite regularly. And we also underwrite numerous Wisconsin court bonds whenever our clients need any of these.
Review the sections below to find out more about each of these Wisconsin surety bonds!
Wisconsin License & Permit Bonds
Every state in the U.S. requires certain businesses to get licensed before they can operate legally. As part of the licensing process, many businesses are also required to obtain a surety bond - a license and permit bond, which serves as protection for the state and the public. Wisconsin also requires many of its businesses to obtain a license bond when applying for their license.
These bonds guarantee that Wisconsin businesses will comply with government and industry regulations for their license, and not commit any dishonest acts that cause financial harm. If they are found to have done so, the license bond is there as a safety measure to offer financial compensation.
Because these are necessary for many businesses, we regularly receive applications for bonds such as the Wisconsin auto dealer bond, or for Freight broker bonds. We also underwrite many other types of Wisconsin license bonds, such as mortgage broker and mortgage banker bonds, as well as telemarketing bonds and many others.
Different bonds have different amounts, which is often fixed on a state level, though there are exceptions such as the freight broker bond. The amount of a surety bond is not the same its cost, so do not confuse the two. To find out more about how much your Wisconsin surety bond will cost, see the section on cost below.
Wisconsin Contract Bonds
Contract bonds are also required in all states. Within Wisconsin, these bonds are necessary for licensed and bonded contractors who want to work on construction projects in the state.
Wisconsin contract bonds are often required on public construction projects. For example when entering a bid, a contractor will be asked to obtain a Wisconsin bid bond and when commencing work– a Wisconsin performance bond. Often, private construction owners also request that contractors get a bond before they are assigned a job.
Wisconsin Court Bonds
Court bonds are the third major types of surety bonds that Wisconsin applicants can obtain. Wisconsin court bonds are often requested when someone wants to appeal a court judgement. In order to protect the appellate system, the court may request the person to obtain a Wisconsin supersedeas bond.
Wisconsin probate courts may also request that people who are appointed as fiduciaries obtain a Wisconsin fiduciary bond, before they assume the responsibilities of a fiduciary of someone’s property.
You can reach us at (866) 450-3412 whenever you want if you have any questions about Wisconsin surety bonds. We will gladly respond to all of your questions and assist you with the bonding process.
Surety Bond Cost in Wisconsin
To get your Wisconsin surety bond, you will have to pay premium to a surety bond company. How high or low your premium will be depends on the type of bond you are applying for, as well as on your financial situation. Here’s how these are related.
All surety bonds have a bonding amount, which is the full penal amount of the bond. In order to obtain a bond, applicants have to pay a premium, which is usually a percentage of the whole surety bond amount. In other words, to obtain a $10,000 Wisconsin auto dealer bond, an applicant will have to pay a fraction of that sum.
When determining the premium to offer to an applicant, sureties most often consider the applicant’s personal credit score as the primary criterion. This is the most important– though not the only– factor that sureties take into account. Sureties regularly also check:
- Personal and business financial statements
- The applicant’s industry experience
- How long their business has existed
- Other financial indicators
Once they have assessed all of the above, sureties will offer a rate. Rates for applicants with a high credit score are so-called standard market rates. These range from between 1%-4% of the total bond amount.
But there are also applicants who have a low credit score. These may often get turned down by sureties due to the increased risk associated with providing them with a surety bond.
Yet, over many years of work with certain sureties, Bryant Surety Bonds has made it possible for our clients to apply for a surety bond, despite a bad or nonexistent credit score. Such applicants can apply for their surety bond through our Bad Credit Surety Bond Program. This program makes it possible for most bad credit applicants to obtain a surety bond and get approved quickly.
Bad credit rates are higher than standard market rates and range between 5%-15% of the total bond amount. However, Bryant Surety Bonds is dedicated to always finding the best and lowest rates for our clients, without exceptions.
For an estimated cost of your Wisconsin surety bond, try our surety bond cost calculator in the right sidebar. If you prefer to get an accurate and free quote on your bond, you can do so by submitting your application. Once you’ve submitted your application, we will contact you with your free ‘no obligations’ quote as soon as possible.
Our Surety Bond Cost page is a great resource you can make use of if you want to know more about how sureties determine premiums. There you can find all details related to surety bond cost.
How to Get Bonded in Wisconsin
Applying for your Wisconsin surety bond is only a matter of a few minutes and a few clicks. There are two different applications, depending on the type of bond you need.
If you need a Wisconsin license and permit bond, apply online here. You can expect your free quote relatively soon, since approvals for most license and permits bonds are rather fast.
If you need a Wisconsin contract surety bond, apply using one of the two possible bond forms. The Fast Track Program application form is the one you should submit if your contract bond is less than $250,000. If your contract bond is more than $250,000, you should use our Full Bond Line Project application form. This is necessary because bonds with amounts above $250,000 are approved differently, and such applications go through a different process.
Simply download either online form for your contract bond, fill in the details, along with all additional documentation and send it to us. We are working around the clock to process application forms, but keep in mind that applications for contract bonds take longer to be approved.
Our lines are open for you to speak to us at (866)-450-3412 anytime. Call us if you need any help or assistance with your application or if you have further questions regarding Wisconsin surety bonds.
Our ‘what is a surety bond’ guide is another great resource if you want to learn more about surety bonds. There you can find all the information you need about surety bonds, how they work and what they do.
Wisconsin Surety Bond Companies
We have extensive experience working with a number of surety bond companies in Wisconsin, which are among the best sureties in the country. Companies such as Great American Insurance Company, Liberty Mutual Insurance Company, International Fidelity Insurance Company are long-standing partners of ours.
They, and all others whom we work with, are companies with exceptional financial standing. This is guaranteed by the fact that all of them are A-rated and T-listed companies. By obtaining your bond with Bryant Surety Bonds, you are receiving their exceptional and highly reliable service.