What Is a Utah Surety Bond?
A wide array of Utah businesses are required to obtain a Utah surety bond, so that they can comply with state regulations and operate legally.
Surety bonds are required in order to safeguard the interests of the state and its citizens, from misuse and fraud by individuals and businesses. In practical terms, they are a contract between three parties. The bonded entity is the principal, the authority that requires the bond is the obligee, and the bond provider is the surety.
There are three main types of Utah surety bonds, which you might have to obtain in different situations:
Oftentimes, if you want to get a business license, you will be asked to post a license bond. It ensures auto dealers, freight brokers, mortgage brokers, and other such professionals will abide by state regulations in their field.
Construction contractors who want to participate in project bids need to get contract bonds. The goal is to guarantee that they will fulfill their contractual obligations, and will perform the work in time and according to high quality standards.
- In some cases, a Utah court might require you to obtain a court bond. The usual situations in which you would need one include if you are appealing a judgment to a higher instance or if you are assigned as a fiduciary, i.e. guardian of another person’s assets.
If you are prepared to launch the bonding process, you can locate the Utah surety bond that you need in the table just below. You can also browse through the full list of bonds in the states at the end of the page.
Need assistance to find the right bond? Call us at (877) 514-5146 and we will be happy to help.
Most Popular Surety Bonds in Utah
Thinking about starting a car dealership in Utah? You will have to post a $75,000 motor vehicle dealer bond.
If you want to operate a collection agency in Utah, a $10,000 collection agency bond will be required from you.
Planning to work as an immigration consultant in Utah? You will be obliged to post a $50,000 immigration consultant bond.
When getting licensed, investment advisors in Utah need to obtain an investment advisor bond of $10,000 or $35,000, depending on their responsibilities towards client funds.
If you’d like to sell tobacco products in Utah, you will need a minimum $500 tobacco or cigarette tax bond.
Many types of businesses are required to obtain a sales tax bond to guarantee their due payment of taxes. The required bond amount varies from case to case.
Frequently Asked Questions
How much does a Utah surety bond cost?
Your surety bond cost depends on the Utah surety bond amount you need to obtain. In some cases, the amount is the same across the US, but in others, it is determined by your local authorities and might even be set individually for each case.
The price that you have to pay in order to get bonded is called the bond premium. It is only a fraction of the bond amount. Usually, the percentage is between 1% and 4% for standard bonding market.
The actual percentage that you will need to cover is determined after your surety assesses your financial stability. The surety will need to examine your personal credit score, as well as other financial factors. Your bond premium is set on the basis of the risk involved in providing you with a bond. The more stable your finances are, the lower your bond price will be.
Can I get a Utah surety bond with bad credit?
At Lance Surety Bonds, we have extensive experience with underwriting all types of Utah surety bonds. That’s why we know how difficult it is for bad credit applicants to obtain the bond they need. Our Bad Credit Program is here to help.
If you have a low credit score, liens, past bankruptcies or civil judgments, you can take part in the program and get a bond premium of 5%-15%. The higher percentage compensates for the increased risk in bonding. Nevertheless, you can be sure you are getting a top bonding rate. We work with a number of A-rated, T-listed surety companies, which allows us to choose the best matching bonding option for your specific case.
How to get bonded in Utah?
Getting your Utah surety bond has never been easier! You can apply online today and get your free bond quote in no time. Once you’ve completed the full application and attached all necessary documents, we will also give you an exact bond price.
Call us at (877) 514-5146 for any questions you might have about bonding and your application. Lance Surety Bonds’ experts are here to help.
You can find a thorough overview of the bonding process on our How to Get Bonded page.
Find Your Utah Surety Bond
|Contractor License Performance & Payment (State) Bond||Appendix Form D: Contractors License||Division of Occupational and Professional Licensin||Apply Now|
|Contractor License Performance & Payment (State) Bond||Contractor's License||Division of Occupational and Professional Licensin||Apply Now|
|Contractor License Performance & Payment (State) Bond||Contractor License Bond||Div. of Occupational & Professional Licensing||Apply Now|
|Contractor License Performance & Payment (State) Bond||Contractor's License Bond||Utah Department of Ocupational Professional Licens||Apply Now|
|Investment Advisor (Blue Sky) Bond||Investment Advisor||State of Utah-Dept of Commerce- Div of Securities||Apply Now|
|Investment Advisor (Blue Sky) Bond||Corporate Indemnity Bond of Investment Adviser||State of Utah||Apply Now|
|Collection Agency Bond||Collection Agency||Dept of Commerce||Apply Now|
|Debt Consolidators Bond||Credit Services Organization||Department of Commerce||Apply Now|
|Insurance 3rd Party Administrator Bond||Third Party Administrator Bond||Utah Department of Insurance||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Mortgage Lender (Entity)||Dept of Commerce, Division of Real Estate||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Mortgage Lender (Individual)||Dept of Commerce, Division of Real Estate||Apply Now|
|Small Loan Companies Bond||Small Loan Companies Bond||City of Ogden||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Motor Vehicle Dealer, Crusher, Body Shop||Motor Vehicle Enforcement Division||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Motor Vehicle Dealer, Crusher, Body Shop||Motor Vehicle Enforcement Division||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Factory Built Housing Dealer Bond||Division of Occupational an professional Licensing||Apply Now|
|Sport Permits Bond||Promoter's||Pete Suazo Utah Athletic Commission||Apply Now|
|Health Spas/Health Clubs Bond||Health Spa Surety||Dept of Commerce, Division of Consumer Protection||Apply Now|
|Detectives Bond||Private Investigative Agency Bond||Bureau of Criminal Identification||Apply Now|
|Professional Licenses (All Other) Bond||Alarm Sales & installation Bond||Murray City Corporation||Apply Now|
|Professional Licenses (All Other) Bond||Immigration Consulting Bond||Department of Commerce||Apply Now|
|Schools (All) Bond||Post-Secondary Proprietary School||Utah Division of Consumer Protection||Apply Now|
|Alcohol (Retailers) Bond||Restaurant Liquor||Utah Department Of Alcoholic Beverage Control||Apply Now|
|Alcohol (Retailers) Bond||Limited Restaurant||UT Dept of Alcoholic beverage Control||Apply Now|
|Alcohol (Retailers) Bond||Liquor Warehousing Bond||Utah Department of Alcoholic Beverage Control||Apply Now|
|Alcohol (All Others) Bond||On Premise Beer||Dept. of Alcohol Beverage Control||Apply Now|
|Cigar/Cigarette & Tobacco Tax Bond||Tobacco Tax Bond||Utah State Tax Commission||Apply Now|
|Sales, Use & Consumer Tax Bond||Sales Tax Bond||Utah State Tax Commission||Apply Now|
|Utility Deposit Bond||Utility Deposit Bond (In Lieu of Audit)||Rocky Mountain Power||Apply Now|
|Money Transmitter Bond||Third-Party Payment Surety Bond||Utah Department of Financial Institutions||Apply Now|
|Telemarketing/Phone Solicitor Bond||Telemarketing/Phone Solicitor Surety||Office of The Attorney General||Apply Now|
|Appraisal Management||Appraisal Management Company Bond||UTAH DIVISION OF REAL ESTATE||Apply Now|