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Thread: Renewal

  1. h2o
    h2o is offline Senior Member
    Join Date
    Sep 2008
    Posts
    117

    Renewal

    My bond is coming up for renewal, but the State is only requiring our company to have this bond for another 4 months. After that the bond is longer needed because they only require the bond for the first few years of being licensed until we're an established business.

    Will I have to pay for an entire year's premium or can I just renew for the 4 months I need?
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  2. lifeisgood
    lifeisgood is offline Senior Member
    Join Date
    Sep 2008
    Posts
    109

    Bond Renewal

    You should be able to extend your bond (prior to renewal) for an additional 4 months. The surety will prorate the extended term and issue a rider reflecting this for the obligee.
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