Recent Bonds-
Contractors License Bond
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Credit Repair Bond
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Appraisal Bond
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School Bond
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Mortgage Broker Bond
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Collection Agency Bond
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Travel Agent Bond
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DEMPOS - Medicare Bond
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“The first step in an agent’s education is thorough knowledge of what he is selling.”
- The Handbook of Fidelity and Surety Bonds, 1928
While this quote was written over 80 years ago, we here at Surety Experts live by these words. As Surety Experts surety bonds are all we sell, surety bonds are what we do. Our agents have studied and worked hard to be experts in this field. We are constantly working to find new ways to help you through the industry of Surety Bonds. Each of our employees is equipped to help you with your bond questions, the cost to you, and all applicable underwriting requirements will be. If there is something we don’t know, we have the resources to find a solution for you quickly.
- The Handbook of Fidelity and Surety Bonds, 1928
While this quote was written over 80 years ago, we here at Surety Experts live by these words. As Surety Experts surety bonds are all we sell, surety bonds are what we do. Our agents have studied and worked hard to be experts in this field. We are constantly working to find new ways to help you through the industry of Surety Bonds. Each of our employees is equipped to help you with your bond questions, the cost to you, and all applicable underwriting requirements will be. If there is something we don’t know, we have the resources to find a solution for you quickly.
Surety Bonds have three categories:
Commercial / Miscellaneous Bonds - Most bonds fall into this category. For example, general license bonds are to insure code compliance of a license holder. Every state has some bond requirements associated with professional licenses and every state has different bonding requirements and bond forms. At Surety Experts, our knowledge base extends to all fifty states. In many states, contractors are required to be licensed and post a contractor’s license bond. In California, Immigration Consultants, Talent Agents, and Mortgage Brokers are all required to be licensed, and all require a license bond to obtain that license.
Contract Bonds - Contract bonds include a performance and payment bond. A contract bond is a guarantee of faithful performance of a contract. The payment bond portion of the contract bond guarantees that all the sub contractors and suppliers associated with completing a contract are paid, resulting in a lien free project.
Court Bonds - Court Bonds are a general description for all the bonds required of litigants to enable them to pursue certain remedies of the court. This is a fancy way of saying the bond guarantees what the court asks. For instance, an administrator bond is issued when a person dies and either did not have a will or a bond was prescribed in the will. The court will assign an administrator of the estate and the bond is to guarantee that the person assigned will comply with the intent of that court order. At Surety Experts, we have an expert with a degree in law so we understand court bonds, how they are underwritten by our markets and can succinctly communicate with the attorneys involved.
Commercial / Miscellaneous Bonds - Most bonds fall into this category. For example, general license bonds are to insure code compliance of a license holder. Every state has some bond requirements associated with professional licenses and every state has different bonding requirements and bond forms. At Surety Experts, our knowledge base extends to all fifty states. In many states, contractors are required to be licensed and post a contractor’s license bond. In California, Immigration Consultants, Talent Agents, and Mortgage Brokers are all required to be licensed, and all require a license bond to obtain that license.
Contract Bonds - Contract bonds include a performance and payment bond. A contract bond is a guarantee of faithful performance of a contract. The payment bond portion of the contract bond guarantees that all the sub contractors and suppliers associated with completing a contract are paid, resulting in a lien free project.
Sub Contract Bonds are a form of contract bonds guaranteeing the faithful performance of a subcontract. The subcontract bonds are written for the protection of the general contractor or major trades contractor with which the subcontract is written. These bonds protect against subcontractor failure and guarantees that all of the subs suppliers and subcontractors are paid. This is of particular importance because if a sub contractor failed to pay a sub or supplier, those parties are entitled to lien the project.
Court Bonds - Court Bonds are a general description for all the bonds required of litigants to enable them to pursue certain remedies of the court. This is a fancy way of saying the bond guarantees what the court asks. For instance, an administrator bond is issued when a person dies and either did not have a will or a bond was prescribed in the will. The court will assign an administrator of the estate and the bond is to guarantee that the person assigned will comply with the intent of that court order. At Surety Experts, we have an expert with a degree in law so we understand court bonds, how they are underwritten by our markets and can succinctly communicate with the attorneys involved.
How long will it take to get approved?
With qualifying credit, most surety bonds submitted using our secure online application are issued anywhere from 5 minutes to 48 hours (Mon-Fri). Actual delivery time varies depending upon the bond type and amount.
How much will the bond cost?
The rate is determined for each client individually. Our surety bond rates are usually .75% to 3% of the bond amount depending upon the type of bond and State in which it is issued.
