An NCP bond is for contracts unrelated to construction work. Two types include service contract bonds and supply bonds when the contract is based on necessary materials being delivered. Watch the video to find out if you need this bond for your business!
Category Archives: Commercial Bonds
01
Sep
Sep
If you’re starting a business or taking on a professional role, you may have encountered surety bonds for the first time. But who exactly needs them, and why are they important? In this article, we’ll break down what license and permit surety bonds are, who they’re for, and how they benefit businesses and the public. […]
15
Jun
Jun
Regarding vehicle ownership, having a clear and legitimate title is crucial. However, there are instances where a car may, for whatever reason, not have the original title. In this case, the owner must obtain a bonded title instead. Here’s everything you need to know – from what a bonded title is to how to get […]
21
Jun
Jun
Effective July 1, 2022, the Connecticut Department of Motor Vehicles (DMV) requires the following businesses to increase their current license bonds. Vehicle repair shops Motor vehicle dealers (new and used) Leasing and rental entities A license bond is required of applicants in various industries to meet state requirements to obtain a business license. In this […]
30
May
May
Various bills have recently been filed regarding the production, use, and regulation of cannabis in Oklahoma. Lawmakers are proposing many changes to the state’s marijuana industry, including a $25,000 bond requirement – regulated by the Oklahoma Medical Marijuana Authority (OMMA). The state is also considering adding marijuana rights to the Constitution. During the 2022 November […]
24
Feb
Feb
Commercial Bonds vs. Contract Bonds: How Are They Different? There are several types of surety bonds. Two of the main categories are contract bonds and commercial bonds, which we’ll cover today. While they have overlapping similarities, they also have some distinct differences that set them apart. Read on to learn when and why you might […]