Which owners have to apply for the bond?

[Bond Guy]

This is the 2nd bond I am applying for with your company. I thought information on owners of 10% or more of the company were required for the application. Am I wrong or has this changed? I own 95% of the company and my brother owns 5%. Who needs to apply for this bond?

[Surety Queen]

Originally Posted by Bond Guy

This is the 2nd bond I am applying for with your company. I thought information on owners of 10% or more of the company were required for the application. Am I wrong or has this changed? I own 95% of the company and my brother owns 5%. Who needs to apply for this bond?

I believe that 5% is the cut off for ownership requirements when applying for a bond. Both of you would need to provide your information for Surety to quote. Some surety companies may use 10% but I think 5% is the standard.