A Lease Guarantee bond is a type of financial guarantee surety bond. The bond provides a form of guarantee that the lease payments will be paid in accordance with the commercial lease agreement. Lease Guarantee bonds, when required, are usually requested as part of the leasing process. The terms of these bonds will vary from bond to bond. The duration of the bond requirement is normally determined by the Lessor. A copy of the leasing contract is normally required in order to underwrite a lease guarantee bond.
Lease Guarantee bond amounts are not standard. Most financial guarantee surety bonds are annually renewable. Lease Guarantee bond amounts are commonly determined based on the annual total of lease payments.
Lease Guarantee bond requests are typically simple and easy to process. A copy of the lease contract is usually required. At times, financial guarantee bonds may require financials as part of the underwriting process. Our agents will let you know what is necessary to gain the best quote and terms for your specific bond request. Quotes are typically provided the same day or within 24 hours.