Texas Surety Bonds

Most Popular Surety Bonds in Texas

How to Get a Surety Bond in Texas

1. Determine The Surety Bond You Need

You can obtain this information from the organization requesting the surety bond. This entity could range from a federal body such as the Federal Motor Carrier Safety Administration (FMCSA), to a state-level department like the Texas Department of Motor Vehicles, or even a local government entity like the city of Midland. 

We often find that first-time clients have inquiries about this process, so please feel free to reach out to us with any questions. Our knowledgeable and approachable customer service team is always ready to assist you.

2. Submit Your Application Form

Complete our online application form in less than 5 minutes, and you'll promptly receive a no-obligation, complimentary quote for your surety bond premium. This is the same straightforward approach our client Giselle took to navigate the bonding process effortlessly.

3. Accept Your Quote

All that remains is for you to settle the quoted premium and sign the agreement. Upon completion of these steps, we will promptly dispatch your surety bond. Upon receipt, you might need to sign it before presenting it to the obligee.

Types of Surety Bonds in Texas

In Texas, there are primarily three categories of surety bonds, each serving a distinct purpose. Here's a quick rundown:

• License Bonds: These are typically mandated by state agencies during the process of professional licensing. In Texas, various professions are required to secure license bonds, including auto dealers, freight brokers, mortgage brokers, and insurance brokers. Obtaining a license bond is a pledge that these professionals will adhere to the regulations governing their respective fields.
• Contract Bonds: Commonly utilized in the construction sector, these bonds are often a prerequisite for companies looking to bid on new projects. Contract bonds serve as a guarantee for the completion of contractual duties and obligations.
• Court Bonds: While less frequent than the others in Texas, court bonds are necessary in certain legal scenarios. These situations might involve an individual appealing to a higher court or serving in a fiduciary capacity. 

Ready to start your bonding process? Find your Texas surety bond in the table below or give our bonding experts a call at (877)-514-5146.

Texas Surety Bond Costs

The premium of a surety bond in Texas hinges on two key elements:

• The specific surety bond required: This determines the bond's total value.
• Your individual risk profile: This aspect dictates the percentage of the bond's total value that you will be required to pay.

The premium for a surety bond is calculated as a percentage of the bond's overall amount, typically ranging from 1% to 10%. Several factors influence this percentage, including:

• Credit score
• Business financials
• Assets and liquidity
• Professional experience

For instance, consider you're seeking a $10,000 Texas Contractor License Bond. If you have outstanding credit, solid financials, and a strong professional background, your bond premium might be as low as $100. However, even with poor credit, obtaining a bond is still possible. In such cases, the premium for the same surety bond could be around $1,000.
 

Surety Bond Requirements in Texas