When working with a surety bond provider, you’ll likely encounter the term “full financials.” The concept comes into play during the bond application process. But what does it mean? Why would your surety ask for it, and why should it matter? We put this guide together to answer all the questions we frequently get on […]
Category Archives: Surety Bonds
16
Jun
Jun
If you have a low credit score, don’t let it stop you from applying for the surety bonds you need. Some surety providers, like ZipBonds, work with applicants with low credit scores by offering options that allow you to get bonded for a low premium rate. In this article, we cover how credit scores generally […]
04
Jun
Jun
Surety bonds and insurance are two types of financial protection. Surety bonds guarantee that a person or company will fulfill their obligations, while insurance pays for losses if something goes wrong. In this guide, we’ll break down the core differences between surety bonds vs. insurance. That way, you’ll know how each will serve you best. […]
03
Jun
Jun
If you’re required to obtain a surety bond, you’ll need to fill out a form as part of the process. A surety bond form is a legal document that outlines the bond’s terms, including the amount, the obligation the principal agrees to complete, and the conditions under which the surety company will be liable if […]
31
May
May
Surety bonds are a type of financial guarantee that protects the obligee (the party owed money or something of value) from financial loss if the principal (the party obligated to pay) fails to fulfill their contractual obligations. Surety bonds are used in various industries, including construction, healthcare, and government contracting. Most bonds cost between 1-10% […]
29
May
May
If you need a surety bond, it’s essential to partner with the right surety bond agent to ensure a seamless process. Here are some important factors to consider when choosing a surety bond agency and, more specifically, an agent to work with. What is a surety bond agent? A surety bond agent is a licensed […]
28
May
May
If you own a business requiring a surety bond, you need to understand how the bond renewal process works. Before a surety bond expires, it must be renewed to remain in effect after the original term ends. If your surety bond expires prematurely, you may be unable to finish a job or maintain your license […]
27
May
May
If you’re a business owner, contractor, or other professional, you may be required to get bonded at some point in your career. But what exactly does that mean? And how can you get the bonds you need as quickly and easily as possible? We’ll walk you through five simple steps to getting bonded, clearing up […]