• All About Surety Bonds
  • What Are Surety Bonds
  • Surety Bond Types
  • Obtaining a Surety Bond
  • Cost of a Surety Bond
  • Bad Credit Surety Bond Program
  • Performance Surety Bonds
    • What are Performance Bonds
    • Performance Bond Requirements
    • Typical Performance Bond Costs
  • License Surety Bonds
  • Surety Bonds at Work
  • Importance of Surety Bonds
  • Ten things about Surety Bonds
  • The Miller Act
• Surety Bond Services
  • Services
  • Applications and Forms
  • Contact Us
  • About Us
• Commercial Surety Bonds
  • Court Bonds
    • Appeal Surety Bonds
    • Conservator Surety Bonds
    • Executor Surety Bonds
  • License & Permit Surety Bonds
    • Collection Agency Surety Bonds
    • Conduct Surety Bonds
    • Contractor License Surety Bonds
    • Cosmetology Surety Bonds
    • DMEPOS Surety Bonds
    • Driving School Surety Bonds
    • Health Club Surety Bonds
    • Liquor Surety Bonds
    • Mortgage Broker Surety Bonds
    • Mortgage Lender Surety Bonds
    • Motor Vehicle Dealer Surety Bonds
    • Pest Control Surety Bonds
  • ARC Surety Bonds
  • Farm Labor Surety Bonds
  • ICC/FMCSA Surety Bonds
  • IFTA Surety Bonds
  • Lease Guarantee Surety Bonds
  • Liquor Tax Surety Bonds
  • Lost Title Surety Bonds
  • Lottery Surety Bonds
  • Reclamation Surety Bonds
  • Sales Tax Surety Bonds
  • SDDC Surety Bonds
  • Tax Payer Surety Bonds
  • Utility Deposit Surety Bonds
  • Wage & Welfare Surety Bonds
• Contract Surety Bonds
  • Bid, Payment and Performance
  • Construction Surety Bonds
  • Subdivision Surety Bonds
  • Warranty Surety Bonds
• Fidelity Bonds
  • Business Services Fidelity Bonds
  • Dishonesty / Fidelity Bonds
  • Janitorial Services Fidelity Bonds

One of the most, if not the most important item to provide to your bond agent (unless a copy is on file), is the Bond form. The Bond form is just that; the form on which the Bond will be written. The Bond form is itself a blank contract essentially “waiting” for the three parties to be added. This is the contract to which the Surety will be held so it is imperative that a clean, clear, and current copy of the Bond form in question is provided along with any other items that your producer requires.

A basic checklist of required items is usually provided to the applicant at initial contact. It is then up to the applicant to put together all items for the underwriters to review. All information needs to be legible and correctly presented or the process may be delayed pending questions and clarification.

Most small Surety Bonds (under $25,000) are fairly easy to obtain for Principals with good credit. These Bonds usually consist of License or Permit Bonds. A simple application is completed by the Principal and submitted to a Bonding agency such as Viking Bond Service Inc. The Bonding agency then checks the client’s credit and provides a quote, usually for a one year term (which is renewable annually). Most of these Bonds can be issued instantly upon payment of premium and receipt of originally signed application. These Bonds are issued on-site in the Bond agency’s office in most cases.

Increased Bond amounts, such as in excess of $50,000 may require additional items and/or underwriting in order to approve. With these Surety Bonds, clients are generally required to provide an application, personal financial statement, business financial statement (if applicable), as well as verification of any cash and securities as listed on their statements. Verification should consist of bank and securities monthly or quarterly statements.

It is always a good idea to check with your Bonding agent prior to completing any forms. This is because there are many odd types of Bonds carrying specific requirements, and your Bond agent can usually save you time by letting you know what items are needed (or not needed) to proceed.