Public Official Bonds
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FAQ
- How much will a public official bond cost?
It is a portion of the bond amount. Costs vary greatly because there are thousands of different bond requirements. You can get a broad range of costs or, if you are ready to obtain a bond, apply on our website and get an accurate price online.
- Where can I get a public official bond form?
We have public official bond forms on file which are listed below. If you do not see the bond you need, you must get it from the obligee.
- Who pays for a public official surety bond?
The government requiring the bond typically pays for it, as it is insures the government against public official theft. However, the public official will still need to personally indemnify, making them responsible for reimbursing any claims that may be filed on the bond.
- Why is the public official's personal credit reviewed?
It is used as an indicator of how a public official handles financial obligations, the likelihood of bond claims and the ability of the public official to pay them.
- Can a claim be filed after the bond expires?
Yes. There is a discovery period where claims can be filed on the bond after it has expired. The discovery period can vary depending on the specific bond form language. This is often referred to as a "bond tail".
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