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Surety Bonds in Nebraska

Nebraska surety bond requirements are more common than you might think. People in all parts of Nebraska need to get surety bonds for all different reasons. If surety bond requirements ever apply to you, this page covers everything you need to know.

How Does a Surety Bond in Nebraska Work?

When you obtain a surety bond, you accept financial liability for any claims filed against that bond. Someone can file a claim if misconduct on your part leads to damages on theirs. The surety agency that issues and backs the bond guarantees a settlement for all valid claims. After paying, however, the surety will focus on collecting that same amount from you – the person who has responsibility for the claim under the bond agreement.

Different Types of Surety Bonds in Nebraska

The purpose of all surety bonds types is the same – holding someone accountable for misconduct – but the details are different depending on the type of bond. Most fall into one of these four categories:

• Commercial – A surety bond you need to get a professional or business license. When required, it's more or less illegal to work without a commercial surety bond.
• Contract – A surety bond you need because of a contractual requirement. Contract bonds are common in the construction industry where one party needs to hold another to specific standards.
• Court – A surety bond 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 one the plaintiff or defendant.
• Fidelity - A surety bond a business gets 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?

Almost anyone may have to meet Nebraska surety bond requirements at some time or another. 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. It pays to know how to obtain a surety bond in Nebraska so you can get one as soon as the need appears. Rely on Viking Bond Service for all your bonding needs, and contact us if you ever have questions about Nebraska surety bond requirements you must comply with.

How to Obtain a Surety Bond in Nebraska

The process may vary depending on the bond type. Some require more scrutiny than others. However, the application process for most types requires the following:

• A completed surety bond application
• Permission to conduct a credit check
• A copy of the specific Nebraska surety bond requirements
• Anything else the surety requests

With all the application materials in hand, underwriters at the surety will quote you a customized bond price, called a premium. Paying premium activates bond coverage, and then the surety will provide documentation proving you met the bond requirement.

The Cost of Nebraska Surety Bonds

The cost of a Nebraska surety bond, in most cases, is a small percentage of the bond size – less or more depending on your credit standing. Poor credit can make it harder to get a surety bond at a fair price, or at all. If this is the case, don't hesitate to call Viking Bond Service for assistance if needed. Our bad credit surety bond program helps people get approved for bonds even if they have been denied elsewhere.

Do You Need to Renew Surety Bonds in Nebraska?

Some surety bonds, especially commercial bonds, require renewal. Coverage typically lasts 12 months but longer and shorter terms are possible. The renewal process involves another credit check, which will inform the renewal price. Improved credit will lead to lower premiums or vice versa.

Get All Your Surety Bonds in Nebraska From Viking Bond Service

No matter where you are in Nebraska or what kind of surety bond you need, 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 - over the phone at 1-888-2-SURETY (1-888-278-7389) or in writing by contacting us.