Bond Amount on Power of Attorney

[Bond Artist]

I recently received my original bond from your office. I applied for a $10,000 bond, but the power of attorney says $50,000. What does that bond amount mean?

[marietta68]

The "bond amount" on the Power of Attorney frequently is a reference to a limitation of the bond amount that's authorized by the power. It doesn't change your bond, but would prevent an unscrupulous person from changing (forging) the bond to an amount that exceeds the power's limitation.

[Bond Artist]

Do I need to own a home in order to obtain a surety bond?

[PT]

Originally Posted by Bond Artist

Do I need to own a home in order to obtain a surety bond?

Not necessarily. If you have good personal credit AND own a home, you will get a more favorable premium than if you don't own a home.