Learn More About License Bonds
What is a License Bond?
A license bond is a very important type of surety bond that protects you, the contractor, the company who hired you and the state bond issuing agency.Government agencies require business owners in certain industries to purchase these bonds before they can be legally licensed. By getting the contractor license bond, you are guaranteeing that you will always provide proper and professional services.
License bonds are required of those who must obtain licenses or permits from cities, towns, or political subdivisions before they can proceed with various activities. These bonds, although used for a variety of purposes, usually guarantee that the persons who post them will comply with statutes, regulations or ordinances that regulate their activities.
A license or permit bond carries a term that corresponds with the period covered by the license or permit issued to the principal. The right to file a claim under the bond continues for varying periods, depending upon the state in which it was issued. Termination of a license or permit bond depends upon the following:
- whether or not termination is allowed by law;
- the ordinance under which the bond is required;
- the terms of the bond itself.
FAQs
What is the cost of a License Bond?
The cost of a license bond is a percentage of the bond amount required of you, which is based on your personal credit).
What if I have bad credit?
Our focus is getting our customers approved regardless of personal credit score, so if you have less than perfect credit we can help. We have worked with some the top bonding companies in the country to develop a variety of exclusive bad credit bond programs. We are confident in our ability get you bonded quickly, without the hassle.
The important thing to recognize is that if you have bad credit, you can still get bonded!
Get a License Bond today!
1) Fill out the form on our website – this takes 30 seconds of your time and we will get back to you with a quote in less than 24 hours (oftentimes within the hour).
2) Call us directly at 781-559-0568 – we are here to help!
Have Questions?
We, the experts at GotSuretyBonds, make it our goal to make the bonding process simple, easy, and affordable for our clients. We have been in the business for over 25 years and have relationships with over 20 carriers, offering you the most flexibility on bond price and terms.
Contact us for quick, professional service and a quote within minutes!
Call 1 (781) 559-0568
to talk with a Surety Expert today.
