The average credit score was 704 in the year 2018, an all-time high. Most lenders consider that a fair or even good score, but since it’s an average of everyone, it means many Americans have scores below 700—sometimes far below that.
Continue reading “How Bad Credit Can Affect a Client’s Surety Bond”
You may have heard about surety bonds but aren’t exactly sure what they are… Many people get confused between insurance vs. bond. While they appear similar, they can have very different implications for both businesses and consumers. The team at Viking Bond Service is here to clear up the confusion by explaining the difference between surety bond vs insurance policy.
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”
Businesses are often required to purchase surety bonds to operate. Surety bonds are generally issued by surety companies. However, it’s common to apply for a surety bond through a broker or surety bonding agency.