surety bond
Agent’s Guide to the SBA Surety Bond Program
Agent’s Guide to the SBA Surety Bond Program What is the SBA Surety Bond Program? The SBA’s Surety Bond Guarantee Program helps small contractors, who would otherwise not be approved by a Surety company, obtain bonding. This program provides an outlet for these contractors to obtain a bonding line for projects up to $6.5M by …
Florida Used Motor Vehicle Dealer Bond
What are the insurance requirements for Florida auto dealers? Florida used car dealers must submit an original $25,000 surety bond and proof of garage liability insurance (minimum of $25k combined single-limit liability coverage including bodily injury and property damage and $10k personal injury protection) with their license renewal every year by April 30th. How can …
Insurance Agent’s Guide to Georgia Auto Dealer Insurance Requirements
What are the insurance requirements for Georgia auto dealers? Georgia used car dealers must submit an original $35,000 surety bond and proof of garage liability insurance (minimum of 50k/100k/25k or single limit of $125,000) with their license renewal every even year (2018, 2020, 2022,..) on March 31st. The surety bond must be effective for 2 …
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Hundreds of Surety Bonds Are Due for Renewal Between Now and the End of 2017. Is Your Customer’s One of Them?
Not all surety bonds expire on fixed dates; the vast majority expire one year after issuance. But with that said, there are a healthy number of licensing requirements for local, statewide, and even federal surety bonds that do expire on the same date every year, regardless of when the bond was issued. And since we …
Make Surety Bond Renewal Painless for Your Customer with These 3 Helpful Tips
Make Surety Bond Renewal Painless for Your Customer with These 3 Helpful Tips As a general rule, surety bond renewal is simpler than the initial application. But there are still some things to know that can help ensure the renewal process is smooth and painless for your customer. Begin the Renewal Process Early Time flies. …
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How Much Will a Surety Bond Cost my Customer?
How Much Will a Surety Bond Cost my Customer? The cost (usually in the form of a one-time premium payment) for most surety bonds generally falls between 0.5% and 15% of the bond amount. If you do the math, that’s a pretty big spread. For example, a $20,000 bond could conceivably come in at a …
