Private Security Bond

[grasshopper]

I have a private security bond for myself but recently hired six other people to work with me for larger jobs. The state says I need another security bond for the buisness. Does my first bond count for anything, can I get some money back?

[lifeisgood]

If the state is requiring you to obtain another bond due to the addition of more employees and larger jobs - then you would apply for another bond and your existing bond would more than likely stay in place with no refund. You are simply adding an additional bond.

[grasshopper]

Will I be able to get any of my money back from the first bond that I could apply to my new bond?