{"id":269,"date":"2017-07-14T11:00:46","date_gmt":"2017-07-14T11:00:46","guid":{"rendered":"http:\/\/www.performancesuretybonds.com\/blog\/?p=269"},"modified":"2022-01-24T16:04:49","modified_gmt":"2022-01-24T16:04:49","slug":"the-many-types-of-commercial-surety-bonds","status":"publish","type":"post","link":"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/","title":{"rendered":"The many types of commercial surety bonds"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-121\" src=\"https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-1024x684.jpg\" alt=\"Different types of commercial surety bonds\" width=\"840\" height=\"561\" srcset=\"https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-1024x684.jpg 1024w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-300x200.jpg 300w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-768x513.jpg 768w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-1200x801.jpg 1200w, https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503.jpg 1600w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/p>\n<p>Commercial bonds are surety bonds that cover a wide range of industries. Businesses are often required to maintain an active <a href=\"https:\/\/www.performancesuretybonds.com\/menu\/commercial-surety-bonds\/\">commercial bond<\/a> by state legislation.<\/p>\n<p><!--more--><\/p>\n<p>They are used both as protection for consumers and to help ensure that businesses follow the appropriate rules and regulations of operating a business in their state. There are many types of commercial surety bond that range from alcohol liquor license bonds to yacht broker bonds. Some are only used in used in certain states but many are commonly used throughout the country.<\/p>\n<p>Let\u2019s take a look at some of the common and not so common types of commercial surety bonds:<\/p>\n<h2><strong>Contractor License Bond<\/strong><\/h2>\n<p>Contractors in many states are required to take out a <a href=\"https:\/\/www.performancesuretybonds.com\/surety-bond\/contractors-license-bond\/\">contractor bond<\/a> in order to become a licensed contractor. The required bond amount varies by state! They are used to help protect consumers from dishonest contractors.<\/p>\n<h2><strong>Mortgage Broker Bond<\/strong><\/h2>\n<p>In order to become a licensed mortgage broker in some states, brokers may be required to obtain and maintain a <a href=\"https:\/\/www.performancesuretybonds.com\/surety-bond\/mortgage-broker-bond\/\">mortgage broker bond<\/a>. These bonds are there to help protect the public from unscrupulous brokers.<\/p>\n<h2><strong>Texas P-5 Surety Bond<\/strong><\/h2>\n<p>This bond is used to protect the environment in <a href=\"https:\/\/www.performancesuretybonds.com\/surety-bond\/texas-p5-bond\/\">Texas<\/a> from contamination by the oil and gas industry! The Railroad Commission of Texas requires that businesses in the industry take out these bonds to assure compliance with all applicable laws in the state.<\/p>\n<h2><strong>Yacht Broker Bond<\/strong><\/h2>\n<p>Unsurprisingly, the <a href=\"https:\/\/www.performancesuretybonds.com\/surety-bond\/yacht-broker-bond\/\">Yacht Broker<\/a> bond is only used in a few states. California requires yacht and ship brokers to take out a $15,000 commercial surety bond to provide protection for buyers.<\/p>\n<h2><strong>Marijuana Surety Bonds<\/strong><\/h2>\n<p>The use of these types of bonds is growing as more and more states are legalizing <a href=\"https:\/\/www.performancesuretybonds.com\/surety-bond\/marijuana-bond\/\">marijuana<\/a> use for both personal and medicinal purposes. Marijuana surety bonds are used to ensure businesses operating in this industry comply with all laws and regulations regarding growing and supplying the substance.<\/p>\n<h2><strong>DMEPOS Bond<\/strong><\/h2>\n<p>The Centers for Medicare and Medicaid Services (CMS) require some medical equipment suppliers to maintain a <a href=\"https:\/\/www.performancesuretybonds.com\/surety-bond\/dmepos-bond\/\">Durable Medical Equipment<\/a>, Prosthetics, Orthotics, and Supplies bond at all times. This makes the surety underwriter liable for any unpaid claims made by the CMS on the equipment supplier.<\/p>\n<h2><strong>Get the commercial bond you need, today!<\/strong><\/h2>\n<p>Viking Bond Service makes the application process for commercial surety bonds quick and easy. In fact, most commercial bonds can be applied for using our online application form.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial bonds are surety bonds that cover a wide range of industries. Businesses are often required to maintain an active commercial bond by state legislation.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[39,44,43,40,41,42],"class_list":["post-269","post","type-post","status-publish","format-standard","hentry","category-blog","tag-contractor-license-bond","tag-dmepos-bond","tag-marijuana-surety-bonds","tag-mortgage-broker-bond","tag-texas-p-5-surety-bond","tag-yacht-broker-bond"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The many types of commercial surety bonds | Viking Bond Service, Inc.<\/title>\n<meta name=\"description\" content=\"Commercial bonds are bonds that cover a wide range of industries. Businesses are often required to maintain an active commercial bond by state legislation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The many types of commercial surety bonds | Viking Bond Service, Inc.\" \/>\n<meta property=\"og:description\" content=\"Commercial bonds are bonds that cover a wide range of industries. Businesses are often required to maintain an active commercial bond by state legislation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety Bond Blog | Discover Performance Bonds, Court Bonds &amp; More\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vikingbondservice\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-14T11:00:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-24T16:04:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-1024x684.jpg\" \/>\n<meta name=\"author\" content=\"Viking Bond Service\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Surety_Bond_\" \/>\n<meta name=\"twitter:site\" content=\"@Surety_Bond_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Viking Bond Service\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/\"},\"author\":{\"name\":\"Viking Bond Service\",\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/#\/schema\/person\/c539f0fcce9e0a0cb437086afd7c2ac2\"},\"headline\":\"The many types of commercial surety bonds\",\"datePublished\":\"2017-07-14T11:00:46+00:00\",\"dateModified\":\"2022-01-24T16:04:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/\"},\"wordCount\":404,\"publisher\":{\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-1024x684.jpg\",\"keywords\":[\"Contractor License Bond\",\"DMEPOS Bond\",\"Marijuana Surety Bonds\",\"Mortgage Broker Bond\",\"Texas P-5 Surety Bond\",\"Yacht Broker Bond\"],\"articleSection\":[\"Blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/\",\"url\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/\",\"name\":\"The many types of commercial surety bonds | Viking Bond Service, Inc.\",\"isPartOf\":{\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.performancesuretybonds.com\/blog\/the-many-types-of-commercial-surety-bonds\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.performancesuretybonds.com\/blog\/wp-content\/uploads\/2016\/11\/bigstock-145827503-1024x684.jpg\",\"datePublished\":\"2017-07-14T11:00:46+00:00\",\"dateModified\":\"2022-01-24T16:04:49+00:00\",\"description\":\"Commercial bonds are bonds that cover a wide range of industries. 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