Surety Bond Blog

Sureties, obligees, principals... what do all of these surety bond terms mean?

Running a startup comes with a lot of risk. Demonstrate trustworthiness to customers and authorities.

Buying a surety bond online is a surprisingly quick and easy process when you work with Surety Bonds Direct.

Getting a Florida contractor's license involves a paperwork and demonstrating that you're financially responsible.

What does it take to find an honest used car dealer that you can trust to sell you a great vehicle?

Each is important in its own way, and each is a step on the path to becoming a licensed California contractor

Bad credit shouldn't hold you back from becoming the entrepreneur you've always dreamed of being

Surety bonds protect a business's customers and clients against all kinds of adverse circumstances

Quickly get your head around the differences between the FMCSA requirements to get your freight broker license.

Thinking about opening your own car dealership? Learn about how to navigate the process, get your bond, and get your license.

If you're just starting out in the car business a dealership without a lot might be an option for you.

Business is booming in Arizona. Which surety bonds are most frequently required to be compliant?

Entrepreneurs in many different fields need surety bonds to get licensed and protect their customers and themselves.

Navigate the most common bonds in one of the fastest-growing states in the nation.

A fast-growing economy with new businesses and investment makes CA a hot market for bonds.

Getting the right surety bond for your business for compliance and establishing trust with your clients.

A quick 5-step overview on how to legally obtain a California dispensary license.

How to find the right bond for your specific needs for compliance, licensing, and building trust with your customers.

With a booming consumer-driven economy and an eCommerce landscape that’s growing at lightning speed with no signs of slowing anytime soon, there’s enormous demand for all things transport in 2019.

Become a licensed contractor in the state of California with the help of Surety Bonds Direct. Read this guide for step-by-step info on how to go about getting licensed the right way!

Motor vehicle dealers and related businesses are subject to surety bonding requirements in nearly every state. These bonds are also known as auto dealer bonds, car dealer bonds, and MVD bonds.

Almost every state in the country requires that certain types of contractors post surety bonds in conjunction with various licenses and permits. The bonds are required for both residential and commercial contractors engaged in many construction trades including general home improvement, electrical, roofing, drywall, HVAC, plumbing and many other specialties.

The surety bond price drop can be attributed to a few different factors. First, the overall economy is relatively strong and continues to show moderate growth. This means that businesses are doing well overall and insurers that assume the risk of loss on surety bonds are faced with fewer claims and loss payouts. Additionally, more insurers have decided to enter the commercial surety market and that extra competition has led to even lower prices.

Texas businesses involved in buying, selling or exchanging motor vehicles or otherwise engaging in business as a dealer, directly or indirectly, including by consignment dealers, must submit application for a general distinguishing number (GDN) license issued by the Texas Department of Motor Vehicles.

Finding an affordably priced surety bond when you have poor credit can be a frustrating experience. Often times, bond premiums for those with bad credit or no credit can exceed 10% of the bond amount. Many commercial surety bond requirements exceed $25,000 resulting in annual bond premiums of $2,500 or more for bad credit applicants! This is a significant cost of doing business for a small business owner.

Let's look at an example of a California Motor Vehicle Dealer Bond for $50,000 and the premium (cost) for 2 different buyers, Joe and Ted.