A new bill is currently going threw the Senate which would revise the surety bond amounts for Agricultural Dealers. The proposed change would require the agricultural dealer bond amount to be in an amount equal to twice the average of the monthly dollar amounts of agricultural products handled during the preceding 12 month period.
Fast Surety Bond Quotes
Applying for a surety bond with our company is easy and getting an approval is fast and painless. We pride ourselves on fast approvals and friendly service. Your Surety Bond application is marketed to 14 companies to make sure you get the lowest rate. We issue Surety bonds same day. Our Surety bond quote system lets you know in seconds, how much your bond should cost if you qualify.
Surety Bond rates and Underwriting :
A surety bond rate is based off your credit, experience, bond type, risk and financial condition. The underwriter will factor the qualifications listed above to determine Surety Credit. The Bonding process is similar to applying for a unsecured loan. Since every situation is unique we have a hands on approach. We use computer systems to automate the process, but we have a underwriter review every submission to guarantee that the client is getting the best rate.
Surety Bond Programs :
We have several programs able to help you or your client procure a bond.
Companies with bad credit or weak finanical’s :
If have less than perfect credit or financial’s we can help. We have designed a surety bond program that helps businesses obtain surety credit even if they have credit issues.
If you have been turned down by another company we can help. Many applicants have been turned down because of the type of bond. Our specialty is hard to place bond types, so don’t worry we can help.
Start up Companies :
If you are a new business we can help. Many surety companies are not willing to write surety bonds for start up companies. We understand that you have to get your feet wet sometime and have programs that can help your business.
If you are a Real Estate Closing Agent in the State of Iowa, you will now be required to carry a $25,000 Surety Bond and become licensed. This new Law SB 2348 was signed into law on 4/07/2010 by the Governor of Iowa . The Law will go into effect on 7/1/2011, so there will be plenty of time to get your bond.
You can check back later for a copy of the Real Estate Closing Agent bond form
With the cost of cars going up many States are finding out their current bonding requirements are not sufficient. Many MVD bond claims are now exceeding the bond amount. Because of this States are forced to increase their bond amounts and Connecticut is no exception.
Currently in Connecticut the surety bond required for businesses that sell motor vehicles is set at $20,000. The New law S414 would require the bond amount to be set at $50,000. This new bonding requirement has not passed as of yet, as soon as it does we will let you know.
A New law that was signed by the Governor of Indiana on 3/12/10 effects all tobacco manufactures.
This new law s 176 requires “nonparticipating tobacco manufacturers” to post a Surety bond in the amount of $50,000, or the amount the manufacturer would be required to deposit due to its previous calendar year’s sales in Indiana, whichever is greater. This new bonding requirement goes into effect on 7/10/2010. You can view the Tobacco Manufacturers surety bond form here.
A surety bond cost and approval is based off of your financial condition and credit. Don’t worry if your financial’s or credit are not up to par there are still programs that can help you.
You can learn more about Tobacco License bonds here.
Massachusetts new bill H 4367 would require Various Tax bonds for licensed companies. The surety bond amount shall not exceed the amount of the vendor’s tax liability for a six-month period or $1,000,000. The bonds could be used to secure the payment of any tax, including any interest or penalty theron, due.
Utah requires any business or person that sells a certain amount of vehicles per year to be licensed.
A MVD bond is considered a surety bond. The bond is required in order to be licensed so you can sell vehicles
Pawnbrokers that engage in selling, exchanging, or pawning motor vehicles will be required to now obtain a MVD bond
S 2724/H 1219 – Consumer Collection Agencies.
This new bill that is still going threw the Senate would require Consumer Collection Agencies to be license and obtain a $100,000 Surety bond. This bond is know as a collection agency bond.
S 2400 is a new bill that clarifies the cancellation provision of the existing law concerning the Florida MVD bond required by businesses/persons selling motor vehicles and Mobile Homes. This bill adds a 30-day cancellation clause. This bill is currently in the Senate.
Do you have the best rate for your situation? Are you not happy with your agent ? Give us a call we can help, unlike other agents we have multiple markets that give us the ability to rate shop. With fast response times and same day next day service we can help. We understand that in these troubled times you need every dollar.
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