Frequently Asked Questions
What is a surety bond?
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A surety bond is a three‑party agreement binding a principal (you), an obligee (the party requiring the bond), and a surety (the company guaranteeing your performance). It ensures you'll fulfill your contractual or legal obligations.
How much does a surety bond cost?
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The premium is typically a small percentage of the bond amount (about 1–15%). The exact rate depends on credit, financials, and the bond type.
How quickly can I get my bond?
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Many bonds issue instantly upon approval. More complex bonds may take 1–2 business days.
What if I have bad credit?
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We work with multiple surety markets and can usually place bonds for most credit profiles—rates vary by risk.
Can I cancel my bond?
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Most bonds are continuous until canceled. Cancellation typically requires written notice to the surety; minimum premiums may apply and active‑project bonds may not be cancelable.