Texas Surety Bonds

The formulation of your surety bond price depends on the type of bond you are required to obtain. For some bonds, the amount is the same across the U.S., while others are state-specific or are set on a case-by-case basis.

The total bond amount that you have to obtain is not equivalent to your bond’s cost. What you have to pay is only a fraction of this amount. This is called the bond premium.

What matters most in determining your surety bond cost are your personal and business finances. Among them, your credit score is essential, along with other factors such as company financials, cash on hand, and even industry experience.

Applicants with a good credit score are typically offered a premium at standard market rates which are between 1%-5% of the bond amount.

Applicants with less than perfect credit can obtain most surety bonds in Texas via our Bad Credit Surety Bonds program. A slightly higher premium is needed in these cases due to the higher risk involved in the bonding. Premium rates typically range between 5%-15% of the total bond amount.

As we have close collaborations with a number of A-rated, T-listed sureties, we have access to exclusive programs and can thus offer you a top bonding rate.

If you are ready to get started with your bonding, you can submit your online application to get a free quote. Once we have your complete set of documents, we are also able to give you the exact bond price.

Would you like to learn more about the bonding process? Don’t miss our extensive How to Get Bonded page.

Lance Surety Bonds’ specialists are here to help. Just call us at (877) 514-5146 for any questions you may have.

The three common situations in which you are likely to need a surety bond in Texas correspond to the main types of bonds.

License bonds are required by businesses and individuals who want to obtain a license and operate legally in the state. Some professionals who need them include mortgage brokers, car dealers, and telemarketers, among others. License bonds guarantee that bonded parties will comply with applicable regulations.

If you are a contractor bidding on private or public projects in Texas, you are likely to need contract bonds. You will usually be asked to obtain a contract bond when you enter a bid or begin work on a construction project. This type of bonds ensure contractors will complete the work in accordance with the project agreement.

Last but not least, you may be asked to provide court bonds in certain cases. These include appealing a court case to a higher instance, as well as being assigned the role of an official fiduciary.