License & Permit Bonds (other) - Cost for a Bond?

apprentice35 · #1 (**permalink**) 10-22-2007, 12:17 PM

Is there any other cost in starting a surety bond besides the 1-3% of the bond amount? Any fees or charges for applying?

lifeisgood · #2 (**permalink**) 10-15-2008, 09:56 AM

The surety bond premium is based upon the applicant's credit and can range from 1-15% of the bond amount depending on how strong their credit is. Generally the only fee you will pay will be the annual premium.

Bond Magician · #3 (**permalink**) 10-16-2008, 10:04 AM

Quote:

Originally Posted by lifeisgood

The surety bond premium is based upon the applicant's credit and can range from 1-15% of the bond amount depending on how strong their credit is. Generally the only fee you will pay will be the annual premium.

Do I have to pay to apply?

lifeisgood · #4 (**permalink**) 10-17-2008, 09:27 AM

There is no fee for the application process. The quote is free and there is no obligation.

Bond Magician · #5 (**permalink**) 10-20-2008, 11:03 AM

Quote:

Originally Posted by lifeisgood

There is no fee for the application process. The quote is free and there is no obligation.

How about if the bond cancels for non-payment? Would I have to pay to have the bond reinstated?

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