Definition

[grasshopper]

What is the definition of a license and permit bond? It seems many of the commercial bonds you write could fall under this category.

[Surety Wizard]

A License or Permit bond is a bond that is required by a state, local, or federal government agency. They require the bond to be in place in order to give you a license to operate the business you are enhgaging in. It is set in place to make sure you operate your business under the guidelines that they have set forth for running that type of business.