Surety Bond – Contractor License Bond Requirements

Contractors are required to have a few different types of surety bonds. Almost every state has some sort of bonding requirements for a contractor to become licensed. If you have applied with the state to become a licensed contractor; the state will require you to obtain your contractor license bond. The State will not grant you your license until the insurance requirements have been met. Each state has it’s own bond amount; each state has it’s own specific bond form too.

Surety Bond:Notary Bond what does it do?

May 14th, 2009 A Notary bond is one of the most common types of surety bonds.
Notary bonds are required by the State to safeguard the public from dishonest acts or mistakes.
Each State has their own bonding requirement and Bond amounts. Every state has their own notary bond form as well.  Today we will focus on Arizona Notary Bonds even though we can write notary bonds for all 50 States.
The Arizona Notary Bond is a $5,000 Bond written for a four Year Term.
Notary bond underwriting is different from the normally license and permit bond underwriting.  Surety bonds are normally underwritten similar to a loan the surety reviews your credit personal financials as well as experience and business financials
With Notary Bonds There are no credit checks or other financial underwriting.

Surety Bond: Needed to start your business

There are many obstacles and hoops that you must jump though before starting your business. You have to find an office, get a sign, get a phone number, get a fax number, and get a website. Not to mention all of the state requirements you must meet. Such as filling you articles of incorporation with the state as well as setting up a business checking account.  Did you remember your business cards? Is there something else you might have forgotten?
What about the surety bond?
It should be easy to get right? It’s just a piece of paper nothing more isn’t it?  Your friend down the street obtained one without a problem it should be easy for you too?

Surety bonds protect tax payers

I cam a cross a interesting article this morning “Surety Bond” on walgreens debacle? This article was talking about where a city that did not requirer a contractor  bonded. The project was never completed and now the tax payers will have to take the burden.  Surety bonds should always be required when it’s tax payers money involved.   If there was a surety bond in place when the contractor defaults on the job a surety company could have taken over the contract and finished the project.  Government surety bonds save the tax payers money

Surety Bond Markets

I found a site that has plenty of surety bond information

Surety Bond Blog

Our wordpress surety bond blog is up

feel free to ask questions and get answers about surety bonds