A sub-category of commercial bonds, License and Permit Bonds are required to obtain a license or permit in many cities, counties, states or other political subdivisions. This bond type essentially guarantees the principal will follow the terms, rules and regulations of the respective license they decide to file a bond for. Some types of License and Permit Bonds include, but are not limited to "Auto Dealer Bonds", "Contractor License Bonds", "Insurance Broker Bonds", "Mortgage Lender Bonds", and "Mortgage Broker Bonds. " If you're ready to apply for a license and permit bond, you can go directly to our online application. It's very fast and easy to use. Current Market for License and Permit Bonds: As you can see, there are many different commercial bonds that fall under the License and Permit Bond sub-category. Therefore, just about everything pertaining to a specific bond in this sub-category, such as bond language, bond amounts, and rates may vary greatly from bond to bond. As always, each individual applicants credit, or level of risk, will also significantly impact specific rates applied to a bond.
The bond amount is $20, 0 00, but is less if your state already has statutory Talent Agency bond requirement. are required in select states to ensure a talent agency conducts its operations in accordance with state laws and regulations. are required from retails applying for sales tax licenses and guarantee to the state the collection and remittance of sales taxes, along with ensuring compliance with applicable statutes, laws, and regulations. protect the general public and governm ent to ensure compliance with laws and regulations that apply to telemarketing companies are state requirements for obtaining and maintaining TPA licenses. These bonds guarantee faithful compliance with state licensing law s and statutes. ensure faithful performance of operations in accordance with state rules and regulations. guarantee the payment of utilities by a Principa l, and are typically used in lieu of a deposit to secure electrical o r water service, some companies will accept a Utility Bond.
Broker Bonds. The different types of Broker Bonds available are Freight Broker, Insurance Broker, and Mortgage Broker Bonds. Business Opportunity Seller Bond. This bond ensures that someone who is looking to open their own business (ergo, who wants to create a "business opportunity") abides by the state's respective laws and regulations. Cigarette Tax Bonds. Anyone distributing cigarettes must purchase this bond. Incidentally, it ensures payment of taxes on cigarettes. Collection Agency Bonds. A collection agency must purchase a collection agency bond before legally operating. Presumably, this is done to guarantee that they operate within the specific rules and regulations of the industry. This is a high risk bond, because collection agencies in the business of collecting debts, and often have a negative reputation in the public eye. Credit Services Organization (CSO) Surety Bonds. A form of protection for buyers of various credit services which guarantees that CSOs comply with all applicable state regulations.
Basic Enterprise License Bond and/or permit bonds (also referred to as a industrial surety bond or license and permit bonds) are ensures that protect the general public and are required throughout the country based mostly in your trade and location. For many license and permit bonds required by cities, townships or counties with bond amounts under $25, 000, a credit score verify isn't required to purchase the bond. Finally, licensed enterprise house owners are chargeable for their actions and required by regulation to reimburse the surety firm for any payments made beneath the bond or face indefinite license cense bonds seek advice from the licensed enterprise as the Principal, the surety bond company because the Obligor and the government agency as the Obligee. Merely put, license and permit bonds assure that companies who are required to have a specific license to conduct enterprise will observe all legal guidelines and regulations. Business homeowners in sure industries are required by authorities to purchase license and permit bonds before they are legally licensed to do enterprise.
Health Club Bonds. Ensures that a health club makes good on their customers' prepaid membership. Home Dealer Bonds. Must be obtained by home dealers to guarantee their performance with off-site built homes. Money Transmitter Bonds. Required by most states to guarantee that money transmitters operate within the terms of their license. Surety Bond Professionals Can Help Our team at Surety Bond Professionals has years providing a range of license and permit bonds in Massachusetts and nationwide. Our team is very well versed in this field, as we have many distinctive surety markets that can handle commercial bonds. To apply, complete our bond application form. We are licensed professionals that can provide you with assistance in receiving your license and permit bond. You can leave it to us to ensure that you receive the appropriate surety bond for your business. Whether you are a contractor, collection agency, or car dealership, we can help you regardless of your credit history.
We can approve 99% of all applicants! We have exclusive underwriting programs established for all credit types to guarantee approval of all bonding needs. What is a License and Permit Bond? "License Bonds" or "Permit Bonds" are a specific type of bond requirement classified under Commercial Surety Bonding. These bonds are typically required by a government agency for business owners in certain industries, making it a legal requirement to have a specific surety bond to be licensed to do business. These bonds act as protection for the consumers by guaranteeing that businesses conduct themselves professionally and follow the laws/regulations enforced by a government agency. offers expert knowledge of all City/State/County License and Permit requirements nationwide. License & Permit Surety Bond Types Our surety experts can help you understand your specific L&P bond need. knows that there are thousands of unique License and Permit Bond types that exist, but the following are some of the most commonly requested L&P Bonds: Immigration Consultant Certified Immigration Consultants have the knowledge to prepare documents and filings for clients with various immigration needs.