What Is a Bond Rider?
A bond rider is the only legal way of modifying or updating information on a surety bond which is still in effect.
Let’s say you’ve posted an auto dealer bond in California. The validity of the bond is one year. But if you decide you need to change any information on the bond form (such as name, address, ownership structure, etc.) before the bond’s expiration date, you don’t have to pay for a new surety bond.
What you need to do is request a bond rider from the surety bond agency that helped you get bonded. The bonding agency will give you a bond rider form, where you can fill out the new details of you surety bond.
If you want to get a bond rider, download the request form and either fax it to (267)-362-4817 or email it to your agent.
Typically, people request a bond rider to change on of the following piece of information:
- Legal name
- Legal address
- Bond term (expiration date)
- Ownership structure (sole proprietor, LLC, corporation, etc.)
- Bond amount changes
If you make any of these changes while the bond is still in force, you would need a bond rider.
Sometimes, the reason for the change might be beyond your control, but it’s still your responsibility to request the change in your bond information. For example, if the total amount of your required bond is increased or decreased for any reason, you must get a bond rider and update your bond with the new amount before the mandate deadline.
If we were the bond agency that helped issue your bond, we can get you a bond rider for a flat fee of $25.
Please note: Most riders are issued with their own Power of Attorney from the respective bond company.