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Surety Bonds in Illinois

Surety Bonds in Illinois

Viking Bond Service offers expert knowledge combined with superior customer service to provide one of the premier bonding services in the US. As a leading surety bond company we’re here to help with all of your surety bond needs in Illinois. Our agents are experts in their field and ensure that your business has the surety bond it needs when it needs it. Our experienced team can help with all types of surety bonds including both commercial and contract bonds.

How to get a surety bond in Illinois

If you need to obtain a surety bond in Illinois you can do so by applying for the bond through a bond company. We’ve used our many years of experience offering bonding services in Illinois to make our application and underwriting process as easy and efficient as possible. For most commercial bonds you’ll be able to apply online using our application form. Once the application and supporting documentation is submitted we aim to provide a bond premium quote within 24 hours. If your business needs a contract performance bond your application will be handled on the phone by one of our agents. Bond underwriting is completed very quickly once the application is submitted!

The cost of Illinois surety bonds

There are many factors that determine the cost of a surety bond in Illinois. Two of the primary influencers of cost are bond type and bond amount. When you complete an application form for a surety bond you’ll be required to provide information regarding your credit history and your businesses financial records. When Illinois surety bond companies analyze an application they use the information to calculate the risk the bond poses to the underwriter. This risk factor shows the likelihood of the bond being claimed against. To lower the cost of bonds you should aim to maintain a strong credit score and businesses finances. Viking Bond Service is experienced at helping business owners secure surety bonds whatever their financial history or credit score.

Common Illinois surety bonds

There are many types of surety bonds in Illinois but they all generally fall under two main categories. These categories are commercial bonds and contract performance bonds.

State and federal laws often require the use of commercial bonds. Many companies need these types of bonds for their business to trade legally within the state. Viking Bond Service agents are experienced at securing the necessary commercial bonds for businesses in the Illinois area including license bonds, dealer bonds, broker bonds, and many others.

Contract bonds are primarily used in the construction industry. The four types of bonds available are bid bonds, performance bonds, maintenance bonds, and payment bonds. These bonds are used to ensure that the contracted work or supplies are delivered to the required standard. We can help your business find the right contract bond today.

Illinois surety bonds by Viking Bond Service

Viking Bond Service is one of the leading surety bond companies in Illinois. Call, email, or use our online application form to receive a bond premium quote within 24 hours!

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