Surety bonds serve as a protection for the state and its citizens and guarantee that businessеs operate in accordance to the state or local legislations. There are three main categories of surety bonds across the U.S.: license and permit bonds, contract bonds, and court bonds. These three are further divided into more specific types, depending on the business to be conducted.
Here’s a brief list of the most popular types of bonds in the city of Fort Worth:
Overview of the Fort Worth surety bonds
Fort Worth surety bonds, just like the bonds in other states, serve as a contractual agreement involving three parties. These are: the principal which is the business posting the bond, the obligee which is the authority requiring the bond, and the surety company that will be providing the bond.
Surety bonds serves as an extra measure of protection against fraud and unethical practices. If a business engages in unlawful business endeavours, they can face a claim on their surety bond.
If you want to learn further details on the bonding process, feel free to contact us at (877) 514-5146. Our experts are ready to assist you with all your questions.
Questions about Surety Bonds in Texas
How much does a Fort Worth bond cost?
The final cost of your Fort Worth surety bond varies, depending on the type of bond and the regulations of the institution requiring it. Keep in mind, the premium you will be paying regularly is a certain percentage of the whole amount.
Surety bond companies take into account a list of factors when it comes to estimating your specific premium. The most important criteria is your personal credit score. The lower your score, the riskier you are as an applicant and the higher the premium you have to pay.
What if I have bad credit?
Having a bad or even no credit is not an issue with Lance Surety Bonds. Our Bad Credit Surety Bonds program is designed for applicants who come from a less than perfect financial background and still need a good bonding deal.
Lance Surety Bonds works with a number of A-rated, T-listed surety companies, that will provide you with top rates in the range of 5% to 15%, depending on your specific financial case.
How do I apply for a Fort Worth surety bond?
Our online application is an east and fast way to get bonded in Fort Worth. Choose the type of bond you’re interested in and let us know about your credit score. We’ll get back to you with a free bond quote in the matter of minutes.
If you still have questions on the bonding process, feel free to check out our How to Get Bonded page or simply contact our experts at (877) 514-5146.