License and permit bonds are required by certain federal, state, or municipal governments as prerequisites to receiving a license or permit to engage in certain business activities. These bonds function as a guaranty from a Surety to a government and its constituents (Obligee) that a company or individual (Principal) will comply with an underlying statute, state law, municipal ordinance, or regulation.
Specific examples include:
- Contractor’s license bonds, which assure that a contractor (such as a plumber, electrician, or general contractor) complies with laws relating to his field. In the United States, bonding requirements may be at federal, state, or local level.
- Customs bonds, including importer entry bonds, which assure compliance with all relevant laws, as well as payment of import duties and taxes.
- Tax bonds, which assure that a business owner will comply with laws relating to the remittance of sales or other taxes.
- Reclamation and environmental protection bonds
- Broker’s bonds, including Insurance, Mortgage, and Title Agency bonds
- ERISA (Employee Retirement Income Security Act) bonds
- Motor vehicle dealer bonds
- Money transmitter bonds
- Health spa bonds, which assure that a health spa will comply with local laws relating to their field, as well as refund dues for any prepaid services in the event the spa closes.
Select Bond Type
Adoption Facilitator Bond
Contractor License Bond - BQI
Contractor License Bond - Newly Licensed
Contractor License Bond - Roofing
Contractor License Bond - Swimming Pools
DMV Business Partner Automation Bond - $10,000
DMV Business Partner Automation Bond - $50,000
DMV Commercial Requester Bond
DMV Defective Title Bond
DMV Dealer Bond - $50,000
DMV Dealer Bond - $10,000
DMV Registration Services Bond
Insurance Broker Bond
Lost Instrument Bond
Notary Public Bond
Process Server Bond
Yacht Broker Bond