Common Surety Bonds:
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Fidelity Bonds: Understanding the Different Types
Fidelity bonds are a type of surety bond that protects agains dishonesty or financial misconduct by employees. These bonds are used in a variety of industries.
Types of Surety Bonds Needed for the Auto Industry
Surety bonds are a common requirement for many kinds of businesses that deal with automobile sales and service.
What Is a Bonded Title and Why Do I Need One?
In some cases a seller may intentionally or accidentally sell the vehicle without the proper title paperwork. Under these circumstances the vehicle owner may need to a type of surety bond call a certificate of title bond.
The Role of a Legal Immigration Service Provider and How to Become One
To ensure that they conduct their business honestly, immigration service providers often have to obtain an immigration service surety bond.
How to Get an Insurance Broker License in California
Getting a California insurance broker license can be the start of an engaging and lucrative career. These are the steps you’ll need to follow to do it.
How to Get a Surety Bond in Maryland
The process of obtaining a surety bond in Maryland doesn’t have to be complicated, but it does require knowledge of how to get a surety bond at the right price and which surety bond is right for each business or individual’s needs.
Understanding Contractor's Licenses in the Carolinas
Quick introduction on how to get a contractor's license in North Carolina or South Carolina, plus requirements such as surety bonds, testing, and application fees.
What Is a Fidelity Bond and How Do I Get One?
To provide a legal and financial guarantee of fidelity and honesty, many businesses use fidelity bonds, but what is a fidelity bond?
Five Must-Have Types of Insurance for Construction Companies
There are 5 types of insurance policies that are essential in every construction project as they offer wide coverage to protect construction firms and help minimize their risks.
How to Become a Public Adjuster
If you like helping people and have a good eye for detail, becoming a public adjuster could be a great career path for you.
45 States Allowing Remote Online Notarization
Increasingly, it’s possible for a notary to notarize a document through video conferencing and electronic document transfer.
New Alabama $50,000 Surety Bond Requirement for Auto Dealers
Alabama HB393 sets out new licensing requirements, fees, and increases the surety bond requirement to $50,000 for new and used Alabama Auto Dealers.
What Is an ERISA Bond and Do I Need One?
If you need an ERISA bond, it can be relatively simple to get one—but there are some key facts to know to ensure that you work with a qualified surety and get an affordable rate.
How to Get a Surety Bond in Texas
Getting a surety bond in Texas is a straightforward process, but first, make sure you know what bond you need.
Virginia Skill Game Owners / Distributors Surety Bonds
Virginia Skill Games Owners and Distributors face new reporting and surety bond requirements starting July 1, 2020.
Everything You Need to Know About Veterans Affairs Fiduciary Bonds
What are these surety bonds? Who does the VA require to get a surety bond? What are the responsibilities of the fiduciary?
A Contractor's Guide to Overcoming Unforeseen Struggles Caused by COVID-19
5 strategies to help contractors mitigate COVID-19 distruptions.
Payment Bonds vs. Performance Bonds
These two types of surety bonds are typically purchased together, but they perform two different and equally critical functions.
Essential Requirements That Every Credit Services Organization Needs
What are the key steps to take and factors to be aware of starting a credit services organization?
Everything You Need to Know About Executor and Administrator Bonds
To ensure that the executor or administrator’s obligations are carried out faithfully, probate courts often require executors and administrators to obtain special types of surety bonds.
Ultimate Guide to Janitorial Bonds: What They Are and Why Your Business Needs One
If you own or manage a janitorial service business, protect your clients and demonstrate your commitment to ethical business practices.
3 Ways California Construction Contractors Can Protect Their Income
Payment issues are a challenge to construction firms all across the globe. The persistence of payment issues lies in the structure of construction projects.
We'll discuss the basics of guardianship bonds, including what a guardianship bond is, why many courts require guardianship bonds, and how much you can expect to pay when applying for a guardianship bond.
The Most Common Surety Bonds in Ohio
These surety bonds are all either required or recommended for Ohio businesses.
Tax preparer surety bonds are required in some states for tax preparers who aren't CPAs or EAs. Find out more about these surety bonds and how to get one easily and affordably.
7 Of The Most Common Surety Bonds in Washington State
For many types of businesses in Washington State, a surety bond is a requirement to get licensed.
The Most Common Surety Bonds in Florida
Florida's allure is much deeper than just the balmy weather that has earned it the title of "Sunshine State."
How to Get a Medical Marijuana Business License in California
The cannabis industry continues to grow into a major force in the California economy.
Why You Need a Durable Medical Equipment Suppliers Bond (and How to Get It)
DMEPOS Medicare providers must enroll with the CMS before they can bill for covered Medicare services
How to Become a Mortgage Broker
Becoming a mortgage broker can be a fun and highly fulfilling career.
Insurance Adjusters 101: Key Differences Between the Types of Adjusters
There are different types of insurance adjusters and each one plays a different role in claims adjustment.
Understanding Oregon Contractor Bonds
Which of the many types of Oregon CCB contractor bonds is right for your business?
Understanding the 3-Party Agreement of Surety Bonds
Sureties, obligees, principals... what do all of these surety bond terms mean?
Does my startup business need a surety bond?
Running a startup comes with a lot of risk. Demonstrate trustworthiness to customers and authorities.
9 Things to Know When Buying Your Surety Bond Online
Buying a surety bond online is a surprisingly quick and easy process when you work with Surety Bonds Direct.
How to Get a Florida Contractor's License
Getting a Florida contractor's license involves a paperwork and demonstrating that you're financially responsible.
Finding an Honest Used Car Dealer
What does it take to find an honest used car dealer that you can trust to sell you a great vehicle?
California Contractor Bond vs. California Contractor's License
Each is important in its own way, and each is a step on the path to becoming a licensed California contractor
How to Get a Surety Bond with Bad Credit
Bad credit shouldn't hold you back from becoming the entrepreneur you've always dreamed of being
What Does a Surety Bond Protect Against?
Surety bonds protect a business's customers and clients against all kinds of adverse circumstances
What's the Difference Between a BMC-84 and BMC-85 Freight Broker Bond?
Quickly get your head around the differences between the FMCSA requirements to get your freight broker license.
How to Get a Motor Vehicle Dealer's License
Thinking about opening your own car dealership? Learn about how to navigate the process, get your bond, and get your license.
How to Get a Car Dealer's License Without a Lot
If you're just starting out in the car business a dealership without a lot might be an option for you.
The Most Common Surety Bonds in Arizona
Business is booming in Arizona. Which surety bonds are most frequently required to be compliant?
What Entrepreneurs Need to Know About Surety Bonds
Entrepreneurs in many different fields need surety bonds to get licensed and protect their customers and themselves.
Most Common Surety Bonds in Texas
Navigate the most common bonds in one of the fastest-growing states in the nation.
Most Common Surety Bonds in California
A fast-growing economy with new businesses and investment makes CA a hot market for bonds.
How to Get a Surety Bond as a New Business
Getting the right surety bond for your business for compliance and establishing trust with your clients.
How to Get a Dispensary License in California
A quick 5-step overview on how to legally obtain a California dispensary license.
Finding the Right Surety Bond for Your Small Business
How to find the right bond for your specific needs for compliance, licensing, and building trust with your customers.
How to Become a Freight Broker
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.
Steps on Getting a California Contractor's License
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!
Beyond the Score: What Items In Your Credit Report Affect Surety Bond Premiums?
In addition to the actual credit score, underwriters will evaluate past due amounts, the number of satisfied accounts, the number of unsatisfied accounts, and the presence, dates, and current status of any liens, judgments, bankruptcies, surety bond claims, and unpaid child support.
How Do Motor Vehicle Dealer Bonds Work?
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.
Spotlight: Contractor License 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.
Are Surety Bond Costs Dropping?
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 Vehicle Dealer License Requirements
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.