Indiana Surety Bonds Explained
Many individuals and companies in Indiana have to obtain surety bonds in diverse situations. Among the typical uses of bonding are the process of obtaining a professional license, bidding in construction projects, and initiating court appeals.
The surety bond works as a contract between three entities. The entity that needs the bonding is the principal. The authority that requires it is the obligee. The third party is the surety, which provides the bonding.
For a detailed overview of Indiana surety bonds, as well as information on pricing and the process, you can refer to the sections below. You can identify your surety bond via the search option in the bond table.
Questions about Surety Bonds in Indiana
What are the bonding costs?
The cost of your Indiana surety bond is directly linked to the type of bond you are applying for. The amounts for license and permit bonds are set by the relevant local or state authorities. There are also a handful of bonds whose amounts are fixed on a federal level, such as freight broker bonds. The amount of contract bonds depends on the project and its contract.
The required bond amount is different from its cost, though. The price of your bond - or the surety bond cost - is a fraction of the total amount.
The primary financial factor that surety bond companies take into account when determining your rate is your personal credit score. Applicants with a good credit score can usually get bonded at standard market rates, which are usually between 1%-4% of the total amount.
Applicants who are further able to present good personal and business financial statements, evidence of industry experience, or the stability of their company also receive a lower rate.
Is bad credit bonding possible?
Bad credit applicants are able to obtain an Indiana surety bond by using our special Bad Credit Surety Bonds program. Rates under this program are slightly higher, between 5%-15% of the total bond amount. This is necessary due to the increased bonding risk. Nevertheless, this is a good option if you are facing financial problems to still obtain the bond you need.
How Do I Get Bonded?
As a first step, we will provide you with a free quote on your Indiana surety bond. You can then decide whether to purchase the bond. You can do this online, and then we will send you a hard copy, as well as a digital copy of your bond.
For a thorough overview of the bonding process, you can review the extensive How to Get Bonded page.
Call us at (877) 514-5146 if you have any questions, or need assistance. Our bonding experts will be happy to help you.
Who needs to get bonded in Indiana?
The most commonly required surety bonds in the Hoosier state include license and permit bonds for businesses who need to get licensed, contract bonds for licensed Indiana contractors, as well as court bonds.
License bonds are all types of surety bonds that are required in order for certain businesses and professionals to receive their license or permit. They are the most popularly used bonds and include auto dealer bonds, mortgage broker bonds, and collection agency bonds, among others.
Contract bonds are necessary for licensed and bonded contractors who want to bid on certain construction projects. Usually public construction projects require contractors to get contract bonds. More and more often, private projects will also require them. They guarantee the performance of contractors under the project contract, as well as their honesty toward subcontractors and suppliers.
Court bonds are a type of surety bonds that appellate and probate courts may request from appellants or fiduciaries in connection with court cases or judgements.
Find Your Indiana Surety Bond
|Livestock Dealers (Non-Packers, Stockyards) Bond||Livestock Market Facilities and Dealers Bond||Indiana State Board of Health||Apply Now|
|Contractor License (No P&P Language) Bond||Timber Buyer||IN Dept of Natural Resources||Apply Now|
|Contractor License (No P&P Language) Bond||General Contractor License Bond||Consolidated City of Indianapolis||Apply Now|
|Contractor License (No P&P Language) Bond||Saint Joesph County Health Department General Cont||Saint Joseph County Health Dept.||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Contractor License Bond||Consolidated City of Indianapolis||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Building Contractor Bond||LaPort County||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Marshall County General Contractor License||Marshall County Building||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Building Contractor Bond||City of La Porte||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Repair or Removal of Unsafe Building Bond||City of Richmond, Indiana||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Waterproofing Contractor Bond (Lake County Plan Co||Lake County Plan Commission||Apply Now|
|Contractor License Performance & Payment (Local) Bond||General Contractor Bond (Lake County, IN)||The City of Gary||Apply Now|
|Excess Weight, Other Highway & Street Permit Bond||Excavatin in Streets Bond||The City of Mishawaka Indiana||Apply Now|
|Collection Agency Bond||Collection Agency||State Board of Accounts||Apply Now|
|Debt Consolidators Bond||Foreclosure Consultant/Credit Services Organizatio||IN Consumer Protection Division||Apply Now|
|Debt Consolidators Bond||Credit Services Organization||State of Indiana Office of Attorney General||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Loan Broker||Securities Commissioner||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||First Lien Mortgage Lending||Securities Commissioner||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Mortgage Lending||State of Indiana Dept of Financial Institutions||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Vehicle Merchandising Certificate Bond||Indiana Secretary of State Dealer Division||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Vehicle Merchandising Certificate Bond||Indiana Secretary of State Dealer Division||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Auto & Mobile Home Dealers (Used Only, No New) Bon||State of Indiana Dealer Division||Apply Now|
|Sport Permits Bond||Boxing & Unarmed Combat Promoters||Indiana Gaming Commission||Apply Now|
|Medicare & Medicaid (Durable Equip, State) Bond||Medicaid Bond||Indiana Family and Social Services||Apply Now|
|Medicare & Medicaid (Durable Equip, State) Bond||Medicaid Transportation Provider Bond||Family and Social Services Administration||Apply Now|
|Professional Licenses (All Other) Bond||Discount Medical Program Organization Bond||Indiana Department of Insurance||Apply Now|
|Professional Licenses (All Other) Bond||City of Shelbyville Contractor License Bond||City of Shelbyville||Apply Now|
|Professional Licenses (All Other) Bond||Internet Web Site Operator||Indiana Secretary of State Securities Division||Apply Now|
|Professional Licenses (All Other) Bond||Closure/Post-Closure Bond||IDEM Solid Waste Permits Section, Office of Land||Apply Now|
|Schools (All) Bond||Institutional Surety Bond||Commission on Proprietary Education||Apply Now|
|Alcohol (Manufacturers, Warehouses, Wholesalers) Bond||Alcohol Beverage||Indiana Alcoholic Beverage Commission||Apply Now|
|Cigar/Cigarette & Tobacco Tax Bond||Other Tobacco Products Distributor's License||Indiana Department of Revenue||Apply Now|
|Fuel Tax (All Others, Sellers & Users) Bond||Special Fuel License||Dept of Revenue Fuel Tax, Bonds & Licensing||Apply Now|
|Fuel Tax (All Others, Sellers & Users) Bond||Gasoline Distributor's License Bond||Indiana Department of Revenue||Apply Now|
|Miscellaneous Taxes Bond||Permit Fee Bond||Indiana Department of Revenue - OSW Services||Apply Now|
|Wages & Fringe Benefits Bond||IBEW Local 531 Contractor's Wage, Fringe Benefit a||Intl Brotherhood of Electrical Workers Local 531||Apply Now|
|Fringe Benefits Only Bond||IBEW Local 153 Contractor Wage Bond||Intl Brotherhood of Electricial Workers Local 153||Apply Now|
Most Popular Surety Bonds in Indiana
Auto dealership have to get a $25,000 bond as part of the licensing requirements.
Freight brokers in all states need to get a $75,000 freight broker bond before they can operate legally.
In many cities and counties in Indiana, you have to obtain a contractor license bond to get a permit to operate as a contractor.
Credit service organizations in Indiana can only operate after they have obtained a $25,000 bond.
Mortgage brokers in Indiana need a bond between $50,000 and $75,000 in order to get licensed.
Debt consolidators need to obtain this bond, which protects the public from fraud and other license violations.