Surety Bonds in Nebraska
In Nebraska, you may find you require a surety bond for a wide variety of occupations. For instance, a general contractor will need a Nebraska contractor's license bond, and most farmers need a farm labor contractor bond. If you need a Nebraska surety bond, Viking Bond Service is your surety partner! We have the experience and dedication to client care to make the bonding process simple and cost-effective for you.
How Does a Surety Bond in Nebraska Work?
When you obtain a surety bond in Nebraska, you pledge to follow all applicable laws, regulations, and industry standards for the occupation the bond covers. Someone can file a claim if your misconduct damages others. Further, you accept financial liability for valid claims against that bond. The surety agency that issues and backs the bond thoroughly investigates every claim and guarantees a financial settlement for all valid claims. After paying, however, the surety will collect that same amount from you, plus interest and fines. Government agencies and companies mandate surety bonds to protect themselves and the public from fraudulent or sub-standard behavior by particular professionals.
Types of Nebraska Surety Bonds
The purpose of all surety bond types is the same – incentivizing lawful business practices and holding someone accountable for misconduct – but the details are different depending on the kind of bond required. Most Nebraska surety bonds fall into one of these four categories:
- Commercial – A commercial surety bond is one you need to qualify for a professional or business license. When required, it's more or less illegal to work without a bond.
- Contract – A contract surety bond is needed due to a contractual requirement. Contract bonds are common in the construction industry, where one party needs to hold another to specific standards.
- Court – A court surety bond is one you are required to obtain (by a judge) before a trial can proceed. Court bonds are common in civil trials to enforce accountability on behalf of the plaintiff or defendant.
- Fidelity - A fidelity bond enables a business to protect itself and its customers from employee misconduct. Fidelity bonds are voluntary rather than mandatory like the others.
Who Needs a Surety Bond in Nebraska?
Since surety bonds help establish trust between two parties – by holding one accountable to the other – they are common in many professional and official situations. Sometimes, taking out a surety bond is beneficial even when it is not required. For instance, many people will choose to do business with a bonded contractor over one who is not bonded. It can serve as a marketing tool that demonstrates your trustworthiness. Rely on Viking Bond Service for all your bonding needs. Contact us if you ever have questions about Nebraska surety bond requirements you must comply with.
How to Obtain a Surety Bond in Nebraska
At Viking Bond Service, we make obtaining a surety bond simple for you. While some Nebraska surety bonds require more scrutiny than others, we can guide you through any surety bond request. For you, the process is always the same. Complete an application. Please provide a copy of the specific bond requirements you must meet. If any additional information is required, we'll keep you well informed. We'll run a credit check and get you a competitive quote for your surety bond ASAP. We are happy to answer any questions and guide you through the process so that you can focus on your work.
The Cost of Nebraska Surety Bonds
In most cases, the cost of a Nebraska surety bond is a tiny percentage of the bond size – typically ranging from 1% to 5%, depending on your credit rating. Your credit score helps our surety underwriters evaluate the risk involved in providing the bond. The better your credit score, the lower the premium you will pay. The size of the surety bond is usually established by the agency that requires the bond.
Can I Get a Surety Bond in Nebraska With Bad Credit?
Poor credit can make it harder to get a surety bond in Nebraska at a fair price, but not at Viking Bond Service! Our bad credit surety bond program helps people get approved for bonds even if they have been denied elsewhere. We understand that some bad luck in the past does not define you and should not limit your future.
Do You Need to Renew Surety Bonds in Nebraska?
Most Nebraska surety bonds expire after a predefined period and must be renewed to remain in effect. Coverage typically lasts 12 months, but longer and shorter terms are possible. The bond renewal process involves another credit check, which will inform the renewal price. Improved credit will lead to lower premiums or vice versa.
Common Surety Bonds in Nebraska
There are many reasons you might need to obtain a surety bond. For example, you might need one for a personal issue like a lost car title, or a bond may be required for your occupation. Some of the most common surety bonds in Nebraska:
There are many other surety bonds available in Nebraska. We look forward to assisting you with your needs.
Get All Your Nebraska Surety Bonds From Viking Bond Service
When you need a Nebraska surety bond, Viking Bond Service can help. We make it fast, easy, and affordable to get bonded. Discover why people in all parts of Nebraska make us their surety agency of choice. Request a bond quote to get a reply in under 24 hours. Our team is also here to answer all your questions – by phone at 1-888-2-SURETY (1-888-278-7389) or in writing by contacting us online.
A Performance Bond may be required to bid for, or accept a contracted job. Learn about Performance Bonds here.
Learn the process of becoming bonded and insured. Find out how your company can obtain both.
Performance Bond cost can vary based on several variables. Each application has unique aspects that affect the cost. Read about how the cost is figured.
Quotes are available for clients with low credit. In many cases, a bond is not out of reach simply due to bad credit.
