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Wyoming Surety Bond Overview
So you need to post a Wyoming surety bond? Not to worry: Bryant Surety Bonds is licensed to offer all types of Wyoming surety bonds. Regardless of your financial status or credit score, our experts will work with you to obtain the bond you need.
We have established years-long partnerships with America’s strongest surety bond companies, all of which are A-rated and T-listed. For our clients, this is a guarantee that their bond will be accepted and that they have the most reliable sureties backing their bonds.
Do you know the name of the Wyoming surety bond you need? You can directly submit your application by finding your bond in the table below.
If you need more information about Wyoming surety bonds, consult the sections further below. Our “What is a Surety Bond?” page is another resource you shouldn’t miss.
If you need additional help, feel free to contact our surety bond agents– they can be reached at (866)-450-3412.
Find the Bond You Need
Contractor License Performance & Payment (Local) BondCity of GilletteContractor License Bond
Contractor License Performance & Payment (Local) BondCity of Sheridan - City Hall 1st FloorCity of Sheridan, WY Contractor License Bond
Contractor License Performance & Payment (Local) BondTown of Jackson, WY(Town of Jackson, WY) Contractor License Bond
Contractor License Performance & Payment (Local) BondCity of Buffalo(City of Buffalo, WY) Contractor License Bond
Contractor License Performance & Payment (Local) BondCity of Torrington(City of Torrington, WY) Roofing and Construction
Collection Agency BondCollections Agency BoardCollection Agency
Insurance 3rd Party Administrator BondState of WyomingThird Party Administrator
Mortgage Broker (1st & 2nd Mortgages) BondCommissioner of Banking, Dept of AuditMortgage Lenders & Brokers
Mortgage Lender/Banker (1st & 2nd Mort.) BondCommissioner of Banking, Dept of AuditSURETY BOND FOR MORTGAGE LENDERS AND BROKERS
Auto & Mobile Home Dealers (New & Used) BondDepartment of Transportation - Motor Vehicle ServiMotor Vehicle Dealer
Auto & Mobile Home Dealers (Used Only, No New) BondDepartment of Transportation - Motor Vehicle ServiMotor Vehicle Dealer
Motor Vehicle (Non-Dealer, Not Listed) BondWyoming Department Of TransportationWyoming Based Manufacturer Bond
Sport Permits BondWyoming State Board of Mixed Martial ArtsPromoter License Bond
Itinerant Merchants BondCity of GilletteItinerant Merchants Bond
Professional Licenses (All Other) BondWyoming Game & Fish DepartmentSurety Bond for 2013 Taxidermist License
Sales, Use & Consumer Tax BondState of WyomingSales and Use Tax Bond (Multiple Contracts)
Fringe Benefits Only BondDept of Workforce Services, Worker's Comp DivNon-Resident Employers' Bond
Appraisal ManagementWyoming Certified Real Estate Apprasier BoardAppraisal Management Company Bond
Types of Wyoming Surety Bonds
Not all surety bonds are intended to serve the same purpose. Based on their purpose, surety bonds can be separated into three different categories:
- License bonds– mandatory as part of the business applications for a number of businesses who want to get licensed in Wyoming.
- Construction bonds– contractors who bid or work on public projects in Wyoming may often encounter this requirement.
- Court bonds– in some cases, a Wyoming court may wish to protect one party’s interest by asking another party to post a court bond.
Bryant Surety bonds offers surety bonds in all three categories. Below you can learn more about each one of them.
Wyoming License and Permit Bonds
When applying for a business license in Wyoming, your application will in many cases need to be accompanied by a license bond. The purpose of the bond is simple: to protect the state and your clients against any fraudulent or unlawful business methods.
If you violate the agreement, an affected side has the right to file a claim using the license bond as foundation. You and the bond provider will be held legally responsible for making good on any valid claim. Our advice to business owners is to be careful about every type of agreement they enter, as well as to follow legislative updates in their state, so as to avoid bond claims.
One of the businesses which is most frequently regulated through surety bonds are auto dealers, and Wyoming is no exception. The Wyoming auto dealer bond, along with the contractor license bond and the mortgage broker bond, are some of the most frequently-requested license bonds.
Wyoming Construction Bonds
According to the Wyoming Little Miller Act, when a construction contractor wants to work on a state project, they will usually need to post a construction bond first.
Construction bonds are a way for the government to protect taxpayer money and their investment, as they can be triggered in case of contractor default or breach of contract. Take bid bonds, for example. They are required during the bid stage of a project. When a contractor is awarded the project, the bid bond guarantees that they will agree to take the project and complete it within the price indicated in the bid.
Before starting work on the project, another type of construction bonds, called performance and payment bonds, will need to be posted, this time to protect against contractor default and delayed payment to subcontractors and laborers.
Wyoming Court Bonds
Have you been appointed a fiduciary by a court in Wyoming? Or do you want to appeal a judgement made by one? These are just two of the examples that may require that you post court bonds, called fiduciary bonds or appeal bonds, respectively.
In the case of fiduciary bonds, they make sure you protect the interest of the person with whose assets or property you were trusted. In the case of appeal bonds, they are set in place to discourage frivolous court appeals.
Cost of Wyoming Surety Bonds
Our surety bond calculator on the right will give you a rough estimate of your bond price. However, it’s always a good idea to understand how surety bond pricing works.
Each surety bonds has a total bond amount listed on it. Similarly to insurance, this amount refers to the maximum compensation a claimant can receive. The holder of the bond pays a bond premium to a surety bond underwriter, so the latter can vouch for their credibility. The premium is no more than a few percent points of the total bond amount. In a standard market, that percentage is between 1% and 4%.
The surety bond premium you will have to pay largely depends on your personal credit score. For a bond underwriter, this is the best indicator of the risk they undertake by underwriting each bond. Some other factors can also be evaluated if you choose to submit them:
- Personal and business financial statements
- Liquid assets
- Years of experience in the industry
In case you have weak financials or credit issues (lack of credit history is considered the same as bad credit), you are considered a higher risk to the surety. Bonding companies compensate for the risk by asking for higher premiums, typically no more than 15%.
Our surety bond agents have plenty of experience working with bad credit applicants. With them in mind, we have designed the Bad Credit Surety Bond Program, which makes it possible for 99% of applicants to obtain the bond they need.
How to Get a Wyoming Surety Bond
Got enough information about Wyoming surety bonds? Then apply for the one you need in just a few minutes, using our user-friendly online application. Shortly after submitting your applications, we will contact you with a bond quote from one of our partners.
We will ask you to provide some extra documentation, so we can finalize your bond application. Once it’s processed by the surety underwriter, you will receive the original bond form in the mail to use where required. Copies of the bond form are available via fax or email. It’s always a wise idea to keep copies of your bond agreements.
If you need more information, or help completing your Wyoming surety bond application, don’t hesitate to call us at (866)-450-3412. We’re looking forward to working with you.
Want to explore more surety bond-related topics? Check out our Education Center, where you can find the answers to many of your questions, and learn everything you need to know.