What are surety bonds?A surety bond is a written promise to pay to the bearer the damages or losses caused by the parties named in the document due to non performance or an act of defecation.
Back to TopWhat type of a bond would I require?This is usually determined by the entity requesting a bond; they should also specify the amount of the surety bond.
Back to TopWhat is a bonded title?A bonded is a title is issued by the department of motor vehicle showing the new ownership of a vehicle when an auto title has been lost, misplaced or not provided by the previous owner after the auto is sold.
Back to TopWhat is the difference an insurance policy and a surety bond?Insurance is obtained to protect a person against events and risks that might arise from events clearly stated in the policy documents. The insured can claim any loses without having to pay them back. A bond, on the contrary, is an obligation on the part of the bonding company to collect the claim from the customer; it guarantees that the person concerned will fulfill his stated obligations.
Back to TopWhat is the process to obtain a bond?Most surety bonds can be issued the same day and other bonds within 24 hours. An application form filled and duly submitted starts the process. The the bond company then sends different quotes and, once the parties agree on the prices, then the bond is issued.
Back to TopDo you work with brokers?have good experience and have developed considerable finesse in selling surety bonds.
Back to TopWhy is a good credit pre-requisite to issuing of bonds?There are bonds that do not require a good credit history. However there are certain bonds that do require a credit check. This is to ensure that the person owning the bond has a good credit rating and has the capacity to pay back the claim amount to the bonding company.
Back to TopWhy is a financial form needed before buying a surety bond?The bonding company enters an agreement to pay on your behalf in the event of any claims, and thus the financial information ensures your credibility and your ability to pay back the claim amount.
Back to TopWhat is the validity of a bond?The bond validity is clearly stated on your application form page.
Back to TopHow long does a bond last?Bond durations are stated on the application page.
Back to TopHow do I go about purchasing a bond?Simply select the bond type from the menu. You can apply online or obtain a printed application form. Submit the form via fax or e-mail and we will get in touch with you within 24 hours
Back to TopWhat are the modes of payment?We accept all major credit cards, and also mailed checks and money orders.
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