Viking can service surety bond requests nationwide for any type of surety bond. Whether you are a person or business seeking licensure or a contractor bidding on a job, Viking can provide competitive terms and quick service. Getting the bonding process started with Viking is easy. There are several ways to get started with Viking:
A surety bond is a type of protection usually required by state, local or federal government agencies. The purpose of a bond is to provide a form of protection for either the general public or groups or individuals specifically stated.
A surety bond is not insurance although often grouped with and referred to as an insurance product. Instead it is a three party agreement. The parties are as follows:
Through this agreement, the Surety agrees to uphold - for the benefit of the obligee - the contractual obligations made by the Principal if that Principal fails to uphold its promises to the obligee. The surety bond is provided to induce the obligee to contract with (or license) the Principal, i.e., to demonstrate the credibility of the Principal and guarantee performance and completion per the terms of the agreement.
In the instance where the Principal fails to uphold their obligation, a claim may be made on the bond. If a valid claim is presented, the Surety will pay on the claim in accordance with the surety bond language. The Principal, however, is ultimately financially responsible for any amount paid toward a claim.
Viking provides Bonding through all major Sureties using A Rated, Treasury Listed paper. This means Viking can do the shopping for you and offer you the most competitive quotes.
Surety Bond rates can vary greatly based on the type and amount of the bond, the quality of credit and in some cases, financials. Typically, the better the credit and/or financials, the better the rate. Poor credit will typically receive higher quotes.
In most cases, the only accurate way to get the rate for your specific request is to get a quote. An underwriter will take all of the variables into consideration and offer a corresponding rate.
In instances where the initial rate is high due to poor credit, upon renewal, if applicable to the bond type, Viking can review updated credit and/or financials. If there is sufficient improvement, our renewal department can search for more favorable rates and terms.
Viking Bond Service, Inc. has the necessary Surety relationships that enable us to assist with any type of surety bond. We are able to assist with Contract Bonds of all amounts, Judicial/Court, Financial Guarantee, License and Permit, as well as other miscellaneous bond types. We are also able to assist with any Fidelity Policy requests. Regardless of type, Viking provides fast quotes, competitive rates and friendly service.
A Performance Bond may be required to bid for, or accept a contracted job. Learn about Performance Bonds here.
Viking can quote your Auto Dealer Bond within 24 hours. We provide great rates and accept good and bad credit.
Viking can get you from bond application to bond in hand quick and easy. We work with both good and bad credit clients. Get started here.
Viking can get your Freight Broker bond requirement satisfied quickly. Quotes and fast, FREE with no obligation.
The bonding process for an Auto Dealer is simple. Start with a quote, end with your bond in hand. We keep the process simple.
You may still be able to get approved despite challenged credit.
Get your DMEPOS Bond here. Free, No Obligation quotes provided nationwide.
Learn about Utility Deposit Bonds. Learn about how they work, why they are used and how to get one if needed. Get a quote here.