Meth Lab Clean Up Bond

[apprentice35]

I have a small sole proprieter business in Tennessee. I have been in business for just about two years now. One of my primary business activities is the cleanup of methamphetime lab sites. I want to get certified in KY which requires a $50K surety bond. The purpose of the bond is to guarantee contractor preformance. I feel that it is a fairly low risk kind of bond from a bonding company perspective. What would it take to purchase a bond?

[PT]

Originally Posted by apprentice35

I have a small sole proprieter business in Tennessee. I have been in business for just about two years now. One of my primary business activities is the cleanup of methamphetime lab sites. I want to get certified in KY which requires a $50K surety bond. The purpose of the bond is to guarantee contractor preformance. I feel that it is a fairly low risk kind of bond from a bonding company perspective. What would it take to purchase a bond?

The first thing any bonding agency would need to see is the bond form language that KY is requiring. If it's a standard format, and you qualify, a bond can undoubtedly be written. If your personal credit is not good, you can still get a bond under a high risk program. First and foremost, however, would be seeing a copy of the bond form to determine if it's a risk that the Surety company would be willing to assume.

[apprentice35]

So you are saying the Surety Company will not take into consideration what I am doing? This is a very dangerous job that I do and something could go wrong at a moments notice.

[PT]

Originally Posted by apprentice35

So you are saying the Surety Company will not take into consideration what I am doing? This is a very dangerous job that I do and something could go wrong at a moments notice.

Not exactly. That's why I said we would need to see the bond language to determine if it is a risk the Surety is willing to take.