How Surety Bonds Protect Consumers

How Surety Bonds Protect Consumers

If you’ve ever visited a bar, bought a car, purchased a home, or worked with a contractor you’ve probably been protected by a surety bond. People often don’t realize that many of the businesses they use are required to have a surety bond. So why is this? State licensing requirements are designed to protect both the state and consumers from improper and unethical business activities. Continue reading “How Surety Bonds Protect Consumers”

How Bad Credit Can Affect a Client’s Surety Bond

Viking Bonds: How Bad Credit Can Affect a Client's Surety Bond

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”