Today we are going to get back to the basics of bonding. We will go over what it means to be bonded and more importantly how to become bonded. We have gone over everything you need to know about surety bonding in previous articles. Therefore, we will highlight these standout articles rather than try to reinvent the wheel.
What Is A Surety Bond? – Learn what a surety bond actually is. You may be surprised to find out that they do not protect you whatsoever, but are a guarantee that is a form of credit.
How To Qualify For A Surety Bond – Not everyone qualifies to be bonded. Learn what you can do to ensure you are “bondable”. Reading this article will not only ensure that you get bonded, but also that you get the best possible rate!
Surety Companies: How To Choose The Best One For You – Bonding companies can vary on rates and underwriting practices. Find out what differences there are and how to go about finding the right carrier for your needs.
The process of becoming bonded is pretty strait forward:
1. Find out bond requirements
2. Apply for bond
3. Get approved
4. Sign indemnity agreement
5. Pay premium
6. Sign bond and send to obligee
If you read all of the articles above you will be well on your way to knowing what you need to do to become bonded. If you have further questions, feel free to ask them on our free surety bond forums.
When you are ready, you can apply for the bond type you need.
Our company is considering offering Independent Trustee services to family trusts. what sort of Bonding is available for such fiduciary duties. thank you
Comment by Keith Reeves — October 5, 2009 @ 11:27 am
Fiduciary bonds are often required by the courts. The applications is rather strait forward, see: http://www.jwsuretybonds.com/surety-bonds/court-bonds/applications/apply_court.htm
If you have a need for multiple bonds for the same fiduciary, we can easily streamline the process for you.
Comment by Michael Weisbrot — October 7, 2009 @ 2:36 pm
I am pretty sure I was bonded ten or so years ago and I need to be for a new job. How can I find out if I am or do I need to do it again?
Comment by Jill Smithson — April 19, 2010 @ 1:06 am
Jill,
Who is requiring the bond of you?
Comment by Michael Weisbrot — April 19, 2010 @ 2:28 pm
Who can help me with understanding how to become a producer for Bonds/Bonding?
Comment by Mike — September 28, 2010 @ 3:02 pm
Mike,
Check out this topic on our forums: http://forums.jwsuretybonds.com/public-chat/11-tr…
Comment by Michael Weisbrot — September 30, 2010 @ 1:14 pm
Is it necessary to be bonded if you are the designated person to take the church offerings to the bank each week?
Comment by Betty — April 6, 2011 @ 1:12 pm
Betty,
I have never heard of such a requirement.
Comment by Jw Surety Bonds — April 6, 2011 @ 1:24 pm
What is the difference when a company states that their men are certified vs. being bonded
Comment by D Snyder — August 29, 2011 @ 5:36 pm
A bond guarantees something, in your example it would likely guarantee that the company follows the rules of a government that issued them a license to operate. If they don't comply the bond can pay victims that had financial impact.
A certification is simply a degree on specific education and provides the consumer no protection.
Comment by Michael Weisbrot — August 30, 2011 @ 10:03 am
Do I need to be Bonded for a Commercial Cleaning Business? If so what type of Bond would I need? I am in Washington State.
Comment by Derek — September 19, 2011 @ 4:51 pm
Derek,
I don't see any Washington surety bond requirements for a cleaning business. However, businesses would probably prefer you to have janitorial services bond for their peace of mind.
Should you ever do contracts for the government, it is possible you will have to post a performance bond. However, that is something they will tell you on a per job basis.
Comment by Michael Weisbrot — September 20, 2011 @ 9:57 am
Do I need to be bonded for my new security company? If so what type of bond? I am in Virginia.
Comment by nina — October 16, 2011 @ 6:25 pm
Nina,
I don't see any Virginia surety bond requirements for security companies. However, you could look into fidelity coverage…an insurance product you can get through your P&C agent.
Comment by Michael Weisbrot — October 19, 2011 @ 4:20 pm
I am applying for a paymaster position and they asked if I was bonded. Everything I'm reading here seems to apply to the Company's creditability , not mine. Can anyone offer me any clarification please? … Would I be looking at a Momey Tranmitter Bond or a Wage & Welfare Bond? Thank you in Advance!
Comment by Donna in Spokane — November 5, 2011 @ 2:40 pm
Donna,
You are not a money transmitter and I'm assuming you do not pay union dues that need to be guaranteed. Therefore, neither of those bond types would apply to you.
Is the government requiring a bond of you? Please provide some more info so I can assist.
Comment by Michael Weisbrot — November 7, 2011 @ 10:24 am
My sister and I started a cleaning business in Michigan. We are licensed through our county but was wondering if we need to be bonded too. Thank you!
Comment by Barb — January 29, 2012 @ 4:50 pm
Barb,
If the county is not requiring a bond to be posted with the license then there is no bond to obtain. You may however want to look into fidelity coverage. CNA Surety offers janitorial policies directly on their website. See: http://www.cnasurety.com
Comment by Michael Weisbrot — January 31, 2012 @ 11:41 am
Thank you Michael!
Comment by Barb — February 2, 2012 @ 7:30 pm
You bet! Let us know if we can be of further assistance.
Comment by Michael Weisbrot — February 3, 2012 @ 10:55 am