If you’re planning to apply for a state license to operate your business you may be surprised to find out that you need a surety bond! In many cases these commercial bonds are required as part of the business license application process. We’ve picked out five of the less well-known bond types below:
Continue reading “5 Licenses that you didn’t know required a surety bond”
If you’re a used car dealer in New York State your surety bonding requirements are about to change! Thanks to the New York Assembly Bill 8166 the state is about to bring in key changes that used car dealers need to be aware of. Although the bill passed in 2016, its influence will only begin on March 28, 2017, when the bill comes into effect.
Continue reading “How Used Car Dealer Bonds will Change in 2017”
In many states, the use of subdivision bonds is increasing. If you’re a contractor, property owner, or developer you should learn the basics of these bonds to ensure you know what they mean for your businesses development projects.
Continue reading “What is a Subdivision Bond and Why is it Important?”
In most states, if you’re involved in the sale or distribution of alcohol you’ll need to know about alcohol bonds.
Continue reading “Everything You Need to Know About Alcohol Bonds / Liquor Bonds”
Auto dealers are a big part of the transportation industry and our society at large, providing the bridge between auto manufacturers and consumers. This crucial part of our economy and culture carries with it a large responsibility, so auto dealers must adhere to local laws and regulations and follow ethical business practices. Motor vehicle dealer surety bonds provide assurances that dealers will behave legally and ethically.
Continue reading “How Motor Vehicle Dealer Bonds Work”
Freight brokers are an important force in the American economy, helping connect shippers of products with carriers to make sure that deliveries are made, keeping the world going round and round. In order to become a freight broker and join this group of crucial service businesses, you need to obtain a freight broker bond.
Continue reading “Everything You Need to Know About Freight Broker Bonds”
In many states, from the day contractors receive their licenses, they have to be bonded. They must also secure surety bonds for many projects they take on.
This guide will serve as an introduction to what kinds of surety bonds you will need as a contractor, when you will need them, how much they will cost, why you need them, and how to get them.
Continue reading “Viking Bond – Contractors Bond Guide: A Surety Bond Guide for The Construction Industry”
Surety bonds come in many types, many sizes…and many prices, ranging from as little as $100 to thousands of dollars. So, what determines the cost of a surety bond ? Well, a number of factors.
Continue reading “Surety Bond Rates Explained”
Personal credit is one of the most crucial elements of securing a surety bond and setting the price for a bond. For some bonds, such as Mortgage Lender Bonds and Mortgage Broker Bonds, credit score is the primary factor in determining approval and bond rate. Here is some information on credit scores, and how they affect one’s application for a surety bond.
Continue reading “How Bad Credit Can Affect a Client’s Surety Bond”