New Jersey Surety Bonds Explained
If this is the first time you are required to post a surety bond, you might not know much about them. The most important fact about surety bonds is that they are a binding contractual agreement between three sides:
- A principal who has to get bonded
- An obligee who requires the bond
- A surety who underwrites the bond
A typical instance where a surety bond is required is when a business is looking to get licensed in order to operate legally. The surety bond ensures compliance with certain rules and regulations related to their industry, and typically offers protection to the business’s customers as well.
Here at Lance Surety Bonds we offer all types of surety bonds in New Jersey, all of them issued by the strongest A-rated and T-listed bonding companies in the U.S.
You can find the bond you need in the table below and start your online application process. If you want to learn more, check out the sections below, which will help you calculate your costs and provide some money-saving tips. If you need any help, feel free to call us at (877)-514-5146.
Find Your New Jersey Surety Bond
|Market Agencies/Dealers Bond||Secretary of Agriculture||Secretary of Agriculture of The State of NJ||Apply Now|
|Contractor License (No P&P Language) Bond||General Contractor License Bond||City of Jersey City||Apply Now|
|Contractor License (No P&P Language) Bond||Electrical Contractor Bond||Board of Examiners of Electrical Contractors||Apply Now|
|Contractor License Performance & Payment (Local) Bond||General Contractor License Bond||City of Jersey City||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Procuring & Installation of a 1,000 Gallon Grease||Hamilton Twsp||Apply Now|
|Contractor License Performance & Payment (Local) Bond||Master Plumber Bond||Board of Examiners of Master Plumbers||Apply Now|
|Contractor License Performance & Payment (State) Bond||Township of Bloomfield Sidewalk Bond||TOWNSHIP OF BLOOMFIELD||Apply Now|
|Excess Weight, Other Highway & Street Permit Bond||Maintenance License Bond||City of Elizabeth||Apply Now|
|Collection Agency Bond||Collection Agency||Deputy Attorney General||Apply Now|
|Debt Consolidators Bond||Debt Adjustment||NJDOBI: License Services, Banking||Apply Now|
|Professional Fund Raisers Bond||Professional Fund Raisers Bond||Division of Consumer Affairs||Apply Now|
|Insurance Adjusters Bond||Public Adjuster||State of NJ Dept. of Banking & Insurance||Apply Now|
|Insurance Agents/Brokers Bond||Insurance Broker||Commissioner of Banking and Insurance||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Residential Mortgage Broker||Commissioner of Banking and Insurance||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Mortgage Lender||Dept of Banking and Insurance||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Motor Vehicle Dealer||Division of Motor Vehicles - Dealer Licensing Bure||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Used Motor Vehicle Dealer Surety||Division of Motor Vehicles - Dealer Licensing Bure||Apply Now|
|Health Spas/Health Clubs Bond||Health Club||Division of Consumer Affairs||Apply Now|
|Detectives Bond||Security Agency License Bond||New Jersey State Police Private Detective Unit||Apply Now|
|Detectives Bond||Detectives Agency License Bond||New Jersey State Police Private Detective Unit||Apply Now|
|Employment Agencies Bond||Temporary Help Service Firm||New Jersey Division of Consumer Affairs||Apply Now|
|Employment Agencies Bond||Employee Leasing Company||Dept of Labor and Workforce Development||Apply Now|
|Employment Agencies Bond||Employment Agency Bond||New Jersey Division of Consumer Affairs||Apply Now|
|Nursing Homes Bond||Health Care Service Firm||NJ Consumer Affairs||Apply Now|
|Professional Licenses (All Other) Bond||(License) Precious Metal||State of New Jersey||Apply Now|
|Professional Licenses (All Other) Bond||Jewlery Buyer||State of New Jersey Office of Weights and Measures||Apply Now|
|Professional Licenses (All Other) Bond||Fire Alarm, Burglar Alarm & Locksmith Advisory Com||Division of Consumer Affairs||Apply Now|
|Professional Licenses (All Other) Bond||Sign Installation Bond||DOT - Office of Outdoor Advertising Services||Apply Now|
|Professional Licenses (All Other) Bond||Commercial Handbill Distributor||State of New Jersey- City of Atlantic City||Apply Now|
|Professional Licenses (All Other) Bond||Energy Consultant Bond||New Jersey Treasurer||Apply Now|
|Professional Licenses (All Other) Bond||Massage Establishment Management Bond||TOWNSHIP OF VOORHEES||Apply Now|
|Professional Licenses (All Other) Bond||Division of Fish and Wildlife Public Offical Bond||NJ Division of Fish and Wildlife||Apply Now|
|Professional Licenses (All Other) Bond||Pawnbroker Bond||NJDOBI License Services||Apply Now|
|Professional Licenses (All Other) Bond||Commerical Handbill Distributor Bond||THE CITY OF ATLANTIC CITY - CITY HALL||Apply Now|
|Professional Licenses (All Other) Bond||NCEA Prep Class Bond||National Coalition of Estheticians, Manufacturers||Apply Now|
|Schools (All) Bond||School||Commissioner, NJ Department of Labor and Workforce||Apply Now|
|Schools (All) Bond||Private School||Department of Labor||Apply Now|
|Schools (All) Bond||Driving School Bond||NJ Motor Vehicle Commission||Apply Now|
|Schools (All) Bond||School Bond -Workforce Development||NJ Department of Labor and Workforce||Apply Now|
|Schools (All) Bond||Tuition Surety||County of Middlesex - Dept of Workforce Devp||Apply Now|
|Alcohol (Manufacturers, Warehouses, Wholesalers) Bond||Beverage Tax Bond||NJ Dept of Treasury||Apply Now|
|Alcohol (Retailers) Bond||Beverage Tax Bond||Dept. of Treasury, Beverage Tax Branch||Apply Now|
|Cigar/Cigarette & Tobacco Tax Bond||Tobacco Performance Bond||Division of Taxation||Apply Now|
|Fuel Tax (All Others, Sellers & Users) Bond||Supplier of Motor Fuels Tax||NJ Division of Taxation||Apply Now|
|Fuel Tax (All Others, Sellers & Users) Bond||Distributor of Motor Fuels Tax Bond||State of New Jersey||Apply Now|
|Utility Deposit Bond||Energy Consultant Bond||New Jersey Treasurer||Apply Now|
|Utility Deposit Bond||Utility Deposit Bond||New Jersey Board Of Public Utilities- Audit/Licens||Apply Now|
|Wages & Fringe Benefits Bond||Wage & Fringe Benefit||International Brotherhood Of Electrical Workers||Apply Now|
|Wages & Fringe Benefits Bond||Wages & Fringe Benefits||International Brotherhood of Electrical Workers||Apply Now|
|Wages & Fringe Benefits Bond||Wages & Fringe Benefits||International Brotherhood Of Electrical Workers Lo||Apply Now|
|Wages & Fringe Benefits Bond||Wage and Welfare Local Union #164||IBEW LOCAL 164||Apply Now|
|Wages & Fringe Benefits Bond||Pipefitters Lcoal 274 Wages & Fringe Benefits Bond||Pipefitters Local Union 274||Apply Now|
|Wages & Fringe Benefits Bond||(U.A. - N.J.) Employee Benefit Funds Wage and Bene||Refrigeration & Air Conditioning Service Division||Apply Now|
|Fringe Benefits Only Bond||OPERATING ENGINEERS LOCAL 825 FRINGE BENEFIT FUNDS||Operating Engineers Local 825||Apply Now|
|Fringe Benefits Only Bond||Refrigeration & Air Conditioning Service Employee||Refrigeration and Air Conditioning Service Divisio||Apply Now|
|Money Transmitter Bond||Money Transmitter.Foreign Money Transmitter||NJ Commissioner of Banking||Apply Now|
Frequently Asked Questions
Who needs a surety bond in New Jersey?
There are many different types of surety bonds and they all serve a different purpose. However, they can be grouped into three main categories, based on the purpose they serve:
License bonds are the largest group. Oftentimes, a new business that needs to get a license will be required by a state or federal agency to post a license bond. It ensures compliance with certain regulations and extends protection to clients.
Contract bonds are required from construction contractors for work on many public and some private projects. They protect project owners by ensuring the terms of the contract are upheld.
- Court bonds are sometimes required of individuals appointed as fiduciaries and guardians. When someone wants to appeal a court decision in front of a higher instance, they may also need to post a court bond.
How much does a surety bond cost in New Jersey?
You can calculate your bonding costs in a few easy steps, or you can apply online and get a free bond quote almost instantly.
Every surety bond has a total bond amount required. This amount is determined by the state, but it is not the price of the bond. Instead, it is the maximum compensation the surety bond can extend to a successful claimant.
Similarly to insurance, surety bonds are obtained by paying bond premiums, which need to be paid annually or biannually, depending on the type of the bond. Applicants with a good credit score (a FICO of 650 or more) can expect premiums in the range of 1% to 4% of the total bond amount.
An applicant’s personal credit score is considered most carefully, although certain other factors can also affect bonding costs. For more on that topic, read our our What Does a Surety Bond Cost? page.
Are there bad credit surety bonds in New Jersey?
Some underwriters are unwilling assume the higher risk involved with bad credit bonds, which is why we created our exclusive bad credit surety bonds program. Thanks to it, 99% of applicants can get bonded.
Bonding premiums are slightly higher, in the range of 5% to 15% at most, but at least they allow you to remain in compliance. And if you take steps to improve your credit score, your renewal premium could be much lower.
How to Get Bonded in NJ
Our online application is a fast and secure way to get the surety bond you need. You’ll receive a no-obligations free bond quote, and an indemnity agreement to sign with the bonding company.
We always do our best to issue your bond as fast as possible. We’ll send it to you by mail once it’s ready, and you can request additional copies via fax or email. Do not hesitate to contact us at (877)-514-5146 if you have any questions or experience difficulties with your online application.
Most Popular Surety Bonds in New Jersey
A $5,000 surety bond is required from collection agencies before they can get licensed. The bond makes sure that money collected on behalf of third parties is properly distributed.
This surety bond is required from public adjusters and insurance brokers, to ensure their duties are fulfilled in an ethical manner and that state regulations are followed.
Health clubs need to post a $30,000 surety bond to get licensed. The bonds ensures clubs uphold their contracts with customers.
New Jersey money transmitters need a surety bond in an amount between $100,000 and $1,000,000. The bond ensures compliance with the Money Transmitter Act, New Jersey Statutes Annotated and other applicable regulations.
The Dept of Banking and Insurance requires mortgage lenders to get licensed and bonded. It’s a safety measure protecting the interest of homebuyers.
A $10,000 auto dealer bond is required from new and used car dealers as a prerequisite to getting licensed. Dealers need to remain compliant with all rules and regulations related to selling cars in order to stay of bond claims.