How do I find a bonding company near me? This is perhaps the first question to ask when getting a surety bond for your specific purpose. Surety bond companies in your state usually provide competitive rate quotes and other state-based customer service benefits. You usually also become legally required to purchase a surety bond based on your government position, contractor job or preventative/protection measure for customer and/or investor interests.
Either way, multiple surety bond companies are available in your state. SuretyBonds.com is a nationwide company familiar with municipal, state and federal bonding regulations. Agents for SuretyBonds.com are available from 8am to 8pm Eastern Standard Time (EST), weekdays only. Forms are also available online and take only minutes to fill out.
Online surety bond application forms are conveniently available 24/7.
Other surety bond providers are also available, but what is required when getting a surety bond?
A credit check is required for approval for a surety bond. Your credit score impacts the amount of fees you have to pay for a bond when approved. Newer business owners also have to pay higher fees for surety bonds unless other mitigating circumstances apply. Collateral is required.
Collateral is most often cash. Cash collateral is generally accepted up front but cash from profit holdback is sometimes accepted as well. Profit holdback collateral is frequently used in tandem with a Funds Control method, where your bond provider holds back specific amounts of your profits as collateral. Real estate and brokerage accounts are also used as collateral in specific situations.
Once the amount of your surety bond is approved and all fees are agreed upon and paid, your bond gets executed with brevity. Email copies are sent to you prior to hard copies arriving in the mail. Once your copies are received your surety bond is official and valid. How do I find surety bond insurance near me? Start by contacting SuretyBonds.com for the best rate quotes in 2021 today.