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South Dakota Surety Bonds

Complete Guide to getting Bonded in South Dakota

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How Do I get Bonded

South Dakota Surety Bonds Explained

Obtaining a South Dakota surety bond is needed in various situations for both businesses and individuals in the state. You may have to get bonded for your professional licensing, if you want to participate in construction project bidding, or to satisfy a court requirement.

The surety bond functions as a contract between three entities. The principal is the one who has to provide a bond to meet certain criteria. The authority that requires the bonding is the obligee. The third party is the bond provider, which is the surety.

You can delve into more details about the bonding costs,as well as the process in the following sections. The table below will allow you to search directly for the bond you need.

Find Your South Dakota Surety Bond

We offer all types of surety bonds in all 50 states. If you can't find your bond in the table below, select "General business license or permit bond (not listed otherwise)" and start your application.
Investment Advisor (Blue Sky) Bond Uniform Surety Bond Division of Securities Apply Now
Insurance Agents/Brokers Bond Discount Medical Plans Bond SD Dept. Labor & Regulation Division of Insuranc Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond Mortgage Company Bond Division of Banking, State of South Dakota Apply Now
Mortgage Lender/Banker (1st & 2nd Mort.) Bond Mortgage Lender Division of Banking Apply Now
Mortgage Lender/Banker (1st & 2nd Mort.) Bond MORTGAGE LENDER DIVISION OF BANKING Apply Now
Mortgage Lender/Banker (1st & 2nd Mort.) Bond Money Lender Bond Division of Banking Apply Now
Auto & Mobile Home Dealers (New & Used) Bond Vehicle Dealer Division of Motor Vehicles Apply Now
Auto & Mobile Home Dealers (Used Only, No New) Bond Vehicle Dealer Division of Motor Vehicles Apply Now
Sales, Use & Consumer Tax Bond South Dakota Department of Revenue & Regulation Un South Dakota Department Of Revenue and Regulations Apply Now
Appraisal Management Appraisal Management Company Registration Bond Department of Labor and Regulation Apply Now

Questions about Surety Bonds in South Dakota

How much does a surety bond cost in South Dakota?

You can calculate the price of the South Dakota surety bond you need in a few steps. The first thing you need to know is the total bond amount that you have to obtain. Each surety bond has a different bond amount, which refers to the maximum coverage the bond can offer to potential claimants.

Once you know this amount, the surety that you apply with can determine your bond premium, which is the price that you have to pay for the bonding. The most important factors that shape your Surety bond cost include your personal credit score and business financials. Good credit applicants (with a FICO score of 700 or above) pay the standard market rate, which is between 1% and 4% of the total bond amount.

Can I get bonded with problematic finances?

The reason your personal credit score is important to surety companies is because it is the best way to measure the risk involved in underwriting a surety bond for you. For this reason, certain surety bonds can be hard to obtain if you have bad credit.

Lance Surety Bonds has developed an exclusive Bad Credit Surety Bonds program for applicants struggling with financial issues. Bond premiums for bad credit applicants are higher due to the increased bonding risk and are typically in the range of 5% to 15%.

How can I get bonded?

You can use the online application to apply for a license or contractor bond. In case you need a court bond, you will need to follow the court bond application form.

Once you provide us with your personal and business information, we will send you a free bond quote. If you are happy with the price, you can purchase the bond straight away. You will then receive a digital and a hard copy of the bond.

If you want to learn more about the way bonding works, you can refer to the in-depth How to Get Bonded page.

Have questions about your application? Call us at (877)-514-5146 to get help from our bonding experts.

Who Needs to Get a South Dakota Surety Bond

As in other states, in South Dakota you may need to obtain one of the three main types of surety bonds.

You may have to get license bonds as part of your professional licensing. They are typically required of businesses such as auto dealerships, mortgage brokerships, and construction companies.

If you are a construction contractor, you may need to post contract bonds in order to participate in certain projects. Most federal and state construction contracts require posting contract bonds. They ensure that you will execute the project in a timely manner and to a set standard, as well as that you will make all due payments to suppliers and subcontractors.

Court bonds may be needed in certain court cases. For example, if you want to appeal a court judgement to a higher instance, you will need an appeal bond first. A fiduciary bond may be required of you if you are appointed to act as a fiduciary.


Most Popular Surety Bonds in South Dakota

Motor Vehicle Dealer Bond

The South Dakota Department of Transportation requires all dealers to post a $25,000 surety bond. The bond is required in order to protect any person damaged from a dealer’s failure to comply with the state provisions regulating vehicle dealers.

Mortgage Broker Bonds

The state Department of Financial Institutions requires mortgage brokers to provide a bond.

Mortgage Lender Bonds

Mortgage lenders and bankers in the state need to obtain this surety bond, which guarantees their compliance with state laws.

Lottery Bond

Video lottery licensees in South Dakota have to obtain a lottery bond to operate legally.

Freight Broker Bonds

According to federal law, freight brokers in all states need to be licensed and maintain an active $75,000 freight broker bond, which offers protection to shippers and carriers.

Surplus Lines Broker Bond

To operate legally in South Dakota, surplus line insurance brokers need to get a $2,000 surety bond.

About Us

Lance Surety Bonds
Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more

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