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Popular Surety Bonds in New Jersey
Collection Agency Surety Bond
If you wish to operate a collection agency or collect or receive payment for others, you must file a $5,000 bond with the Secretary of State.
Professional Fundraiser Bond
Independent paid fundraisers and fundraising counsels in New Jersey must post and maintain a $20,000 surety bond, renewed annually.
New Jersey Fidelity Bonds
All businesses with employees should consider purchasing a fidelity bond for protection, especially financial companies and business service providers with frequent access to client property.
Right of Way and Excavation Bonds
Contractors wishing to obtain a license or permit to work in a public right of way (along highways, streets, or roadways) need a $25,000 surety bond.
Agricultural Dealer Bond
To obtain your license to purchase and resell agricultural products in the state, you must first post a surety bond.
Career Counseling Service Bond
Often referred to as an employment agency bond, a career counseling service bond is required of anyone wishing to offer career counseling services in the state.
Find Your New Jersey Surety Bond
Don’t see the bond you need?
Give us a call at (888) 435-4191 or use our generic form to start your application online. We’ll reach out soon!
What’s the difference between a surety and a bond?
A surety is the company that issues the bond to an applicant. A surety bond is a three-party contract between an obligee, a principal, and a surety:
- Obligee: The party that requires the bond
- Principal: The party that purchases the bond and abides by its terms
- Surety: The company that issues the bond and backs it financially
How much does a surety bond cost?
The cost of a bond can vary based on a few factors, including the type of bond, the amount required, your credit score, and finances. Your bond premium will be a small percentage of the total bond amount – typically 1-10%.
Generally, the stronger your credit score, the lower your rate will be. However, we do not need to run your credit in some cases. We can issue some bonds instantly at a flat rate.
How do I know which bond I need in NJ?
Various businesses, contractors, and other professionals will need surety bonds to operate legally in NJ. Many professions that require state, county, or city licenses to work or practice will also require surety bonds.
Here are some examples:
- You may need various construction bonds to work as a contractor.
- You may need a license or permit bond to operate a professional business.
- Or you may need a court bond to fulfill your duties as a fiduciary,.
How to Get a Surety Bond in New Jersey
To obtain a surety bond in New Jersey, simply select the bond you need, complete the application, and you’ll be off and running! Call us at (888) 435-4191 or email support@zipbonds.com with any questions. We also have Live Chat on our website during working hours. Feel free to reach out any time!
About ZipBonds.com
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.