Can you give bonds in Tennessee?

[Unregistered]

I need to have a bond for 90,000 in tennessee. Assuming that the financials and credit are excellent would would an appoximate annual premium be?

[Surety Guy]

Due to the forums rules, rates can not be discussed. Please read the Forum Rules and "Why can't you give me a quote?".

I can discuss this specific bond with you, but we can not discuss hypothetical rate scenarios on this forum, as they change with the market and these threads may be read years from now.

The TN mortgage broker bond is a difficult bond to write due to a combination of:

1) A hard surety bond market (learn more about it at: The Surety Bond Blog)

2) The lack of an aggregate clause on the bond form; which states that the surety will never have to pay out more than the amount of the bond. This is something that you would think should be assumed, however sureties have been burned by having to pay out the full amount of the bond per claim filed.


If you do have good business financials and the owner(s) have good personal credit then you can apply at: http://www.jwsuretybonds.com/app_mort.htm

Otherwise, I suggest a letter of credit until the surety bond market becomes more liberal, the state adds the clause, or your financial situation improves. Let me know if you have any further questions.