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License bonds are surety bonds that are required to be posted by business owners before they can obtain their license to legally conduct business in their certain field of work. Government agencies at the federal, state, city and county level require surety bonds to be posted in order to ensure businesses abide by all of the laws and regulations that are in place to protect the public. If a bonded business fails to adhere to the laws and regulations and a claim is made, the surety company will cover damages to the consumer up to the posted bond amount. The bonded business must then pay the surety.
License bonds are individually underwritten so the cost can vary. In most cases, the rate will be primarily dependent on the personal credit score of the applicant. Sometimes depending on the type of bond, personal and/or business financials may be required. Customers with good credit scores (generally 680 or higher) could qualify for a rate as low as 1% of the bond amount, and sometimes lower depending on the type of bond.
As surety experts in business over 23 years, The ProSure Group has issued thousands of license bonds and has partnerships with more than 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace, no matter your credit or financial situation!
There are thousands of different surety bonds required throughout the United States. The ProSure Group helps you find the right surety bond quicker & easier by searching individual states where the surety bond is required - at the municipality, city or state level.
Choose your state from the dropdown below to get started.
There are thousands of different types of bonds out there, each of them is very unique. To make it easier to find the bond you need we have grouped many of the common types of bonds below.
Contractors are required to post a surety bond before they can be licensed to work in certain states, cities, and counties.
This group includes surety bonds for motor vehicle, watercraft, aircraft, RV, mobile home, trailer, and motorcycle dealers, manufacturers, inspectors, importers, distributors, and parts dealers.
Medical and recreational marijuana dispensaries are required to post a surety bond in order to be licensed in the state they operate.
Money transmitters (aka money services businesses) are required to post a surety bond before they can be licensed in every state except Montana.
A mortgage banker bond (MBB) providers coverage and protection for a mortgage banker and any job-related issues.
Most states require mortgage brokers, lenders, originators and servicers to post a surety bond before they can be licensed.
A $75,000 surety bond must be posted before anyone can operate as a Freight Broker/Forwarder.
Also called employee leasing companies, some states require these surety bonds to ensure businesses are held responsible in case of fraud or malpractice.
DMEPOS stands for durable medical equipment, prosthetics, orthotics and supplies. Before suppliers of DMEPOS can be approved to bill Medicare they must post a surety bond.
The U.S. Department of Labor requires this surety bond to be posted by employers of H-2A workers.
Some states require agricultural product dealers to post a surety bond before they can operate in the state.
Many states require appraisal management companies to post a surety bond as part of the licensing process.
These surety bonds protect against unlawful and unethical business practices.
Many states require a surety bond to be posted in order to be licensed as an auctioneer.
In order to be licensed as a boxing, MMA, wrestling or any other unarmed sports promoter a surety bond is required to be posted in some states.
Collection and repossession agencies are required to post a surety bond in many states.
Credit service organizations or businesses are required to post surety bonds in order to protect consumers from the company's failure to follow state laws and regulations.
Debt management surety bonds are different than credit services surety bonds in that debt management companies help consumers manage and pay down debt where a credit services company helps consumers obtain and/or improve credit.
These surety bonds ensure operators of such schools and programs operate ethically and follow the law.
These surety bonds are not the same as Utility Deposit bonds. Energy brokers act as middlemen between consumers and suppliers.
Many states require a surety bond to be posted in order to be licensed as a fantasy contest operator.
This group includes surety bonds for health care clinics and services, home health agencies, medical equipment suppliers, and leased nursing homes.
Health club surety bonds are required by some states to protect consumers against losing their prepaid membership fees if a club unexpectedly shuts down.
These surety bonds protect consumers against fraud, unethical, and illegal activity that may be committed by an insurance broker/adjuster.
These surety bonds protect against the mishandling of funds and illegal activity by licensed lottery sellers.
Florida and Texas require Medicaid providers to post a surety bond when operating and billing Medicaid in the state.
Ocean freight forwarders and non-vessel-operating common carriers (NVOCCs) are required to submit acceptable proof of financial responsibility to the Federal Maritime Commission. A surety bond is considered acceptable proof of financial responsibility.
Owners or operators of oil and/or gas wells are required to post surety bonds in some states.
These surety bonds protect consumers against a pawn shops breach of contractual obligations and ensure they follow all laws and regulations set by the state.
This group includes surety bonds for lenders of small, short-term loans, title loans, and credit lenders.
Certain states require a permit bond which make sure their business is adhering to the local, state and federal laws which protects their customers.
Certain states require businesses that handle, distribute, or transact with any type of dangerous or prescription drug post a surety bond.
Some states require a surety bond to be posted in order to operate a business as a private detective or investigator.
Many states require private schools to post a surety bond to protect consumers in case the school unexpectedly shuts down.
These surety bonds are in place to protect the consumer against any financial losses incurred due to the process server not following the law.
Some states require a surety bond to be posted in order to be licensed as a professional fundraiser for a charitable organization.
These surety bonds are much the same as professional fundraiser bonds; different states have different names for the same thing.
Many states require public adjusters to post a surety bond before they can conduct business.
This group includes surety bonds for both real estate school operators and real estate brokers.
Some states require surplus lines brokers to post a surety bond before they can conduct business.
Telemarketing bonds are in place to ensure telemarketing companies follow the law and don't harass consumers.
Title agents must post a surety bond prior to opening a business in some states.
Travel agencies must post a surety bond to protect consumers against the mishandling of funds and fraud.