Which Surety Bond in Massachusetts Do You Need?
There are three types of Massachusetts surety bonding that can be required of you:
- License and permit bonds needed for many professions such as auto dealers and mortgage brokers to operate legally.
- Contractor bonds for public construction projects.
- Court bonds required by the courts for various purposes.
Find Your Surety Bond
Getting License and Permit Bonds
Massachusetts requires license and permit bonds in order to get and file licenses/permits for many different lines of business. You can find a full list of license and permit bonds required by using our bond requirement search tool.
Getting Contract Bonds for Jobs
Contractor bonds such as bid bonds and performance bonds are needed to work on public construction projects. However, these are usually required by cities or municipalities as opposed to the state. You can learn more about what’s needed to get surety bonds for construction jobs.
Getting Court Bonds in Massachusetts
Court bonds aren’t needed as often as the other bonds mentioned above, but can be required by the courts if you need to appeal a court decision, become a legal guardian of a minor or operate as a fiduciary of an estate.
What Do Massachusetts Surety Bonds Cost?
Surety bonds generally cost 1-15% of the required bond amount. Surety bond costs vary significantly depending on the bond amount you need and your rate (which is the percentage of the full bond amount you must pay). You can get an instant estimate by using our bond premium calculator, or apply online to get a firm bond quote.
Can You Get Surety Bonds in Massachusetts with Bad Credit?
It’s possible to get surety bonds with bad credit, but it will depend on the bond type you need and how severe your credit issues are. You can get approved for most license and permit bonds with credit issues. However, it is more difficult to get contract bonds with bad credit. You can also read the most frequently asked surety bond related questions.