Do you need a surety bond for the first time? Or are you curious how to find better rates and services from your surety provider? Either way, you’re in the right place. As a reminder, a surety bond is a three-party agreement between a principal, an obligee, and a surety. The principal is the party […]
Category Archives: Surety Bonds
21
May
May
A surety bond is a legally binding contract ensuring one party keeps its promise to another. If someone fails to keep their promise, a surety company will compensate the party who experienced the loss. Then the party at fault for breaching the contract will have to pay the surety back. Confused? Hey, that’s okay! That’s […]
10
May
May
If you’re a licensed professional, contractor, or business seeking work on a government project, you’ll likely need to purchase surety bonds throughout your career. Surety bonds are typically required by government agencies, financial institutions, and other businesses to ensure that contractors, fiduciaries, and other relevant parties follow their contracts and fulfill their obligations. There are […]
06
May
May
Interested in the logistics industry? If so, you may already be considering becoming a freight broker. A freight broker acts as an intermediary between shippers and carriers to facilitate the transportation of goods. In this blog article, we’ll explore what a freight broker does, how much they can make, the pros and cons of becoming […]
05
May
May
What does it mean to be bonded? You may have asked this question yourself. Or maybe you’ve hired another party that advertised their business as being “licensed, bonded, and insured.” Being bonded can provide a level of assurance and protection for your customers. But what exactly is the meaning behind behind bonded?
04
May
May
As a notary public, you play a vital role in legal transactions by verifying signatures, administering oaths, and attesting to the authenticity of legal documents. However, with this power comes great responsibility. That’s why many states require notaries to have notary bonds. Throughout this article, we’ll cover everything you need to know about notary bonds, […]
03
May
May
When searching for service providers, you’ll likely come across the term “licensed and bonded” quite frequently. But what exactly does it mean, and why does it matter? In this article, we’ll explore the basics: what being licensed and bonded means, the benefits of licenses and surety bonds, and the risks involved if you either hire […]
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 […]