Mississippi Surety Bonds

Most Popular Surety Bonds in Mississippi

How to Get a Surety Bond in Mississippi

1. Determine The Surety Bond You Need

This information can be obtained directly from the entity that is requesting the surety bond. Whether it’s a federal agency like the FMCSA, a state department like the Mississippi Motor Vehicle Commission or even a municipality like Batesville. Several of our first-time customers have questions about this step so don’t hesitate to contact us if you have any doubts. After all, we have a well-established track record for providing experienced and friendly customer service.

2. Submit Your Application Form

Fill our brief online application form and you will receive a free, no-commitment quote for your surety bond’s premium. That’s what our client Lisa did to get bonded swiftly and at a great rate.

3. Accept Your Quote

Once you pay the quoted premium and sign the agreement, we’ll send you your surety bond right away. In many cases, you must sign it before sharing it with the obligee.

Types of Surety Bonds in Mississippi

There are three main types of surety bonds available in Mississippi. These are:

• Commercial bonds are commonly required when applying for a business license. For example, if you want to work as an auto dealer, freight broker, mortgage broker, contractor or other professional, you’ll need to purchase a commercial bond before you can get your license and start trading.
• Contract bonds are used when contractors bid on construction projects. Contractors are required to purchase contract, or construction bonds, before they bid on a project. If the job subsequently falls through, the bond can be used to protect the client from financial losses.
• Court bonds are required when a person is appointed a guardian or fiduciary by a court. For example, in the case of probate. You may also need to purchase a court bond if you appeal a court judgment.

Looking for a specific surety bond? Use the table below to find the exact bond you need or contact our bonding experts by calling us at (877)-514-5146.

Mississippi Surety Bond Costs

The cost of a Mississippi surety bond is influenced by 2 major factors:

• The type of surety bond you require, which defines its amount;
• The risk you represent, which affects what percentage of that amount you’ll be paying.

The surety bond’s premium is determined based on a certain percentage of the bond's total amount. This percentage varies between 1% and 10%, influenced by factors such as:

• Credit score
• Business financials
• Assets and liquidity
• Professional experience

For example, if you’re looking for a $10,000 Mississippi Collection Agency Bond, and have stellar credit, financial and professional records, we may quote you as little as $100 for your bond. If you have bad credit, you can still get bonded. However, expect the premium to be closer to $1000 for the same surety bond.

Surety Bond Requirements in Mississippi