Statutory Bond | Surety BondStatutory Bond Application
Type of BondThis bond is created to have a compliance with the statute. This bond describes the liability that the statute imposes on the principal and the surety. This bond is created as per the requirements of the state and federal government. This bonding requirement will vary from the state to state. This statutory bond is created especially for the benefit of the public. The essential requirement of this bond is that the contractors will act as per the jurisdiction of the state. This bond carries whatever liability the statute imposes on the principal and the surety. This bond ensures every action of the principal and the obligee in the statutory manner. This bond thus ensures that the principal will oblige the terms and condition of the contract. Failure of this contract will lead to be sued in the court of law.
Program: Our agency currently has several specialty programs that can help you place your Statutory Bond.
Statutory Bonds are an extension of credit, like a loan your rate will be based upon your credit situation. Most surety agencies will decline your bond submission if you don't have a 700 credit score, but our company is different. We can help you in almost any credit or financial situation. Our rates start at 1% to 3% for most surety bonds. If your credit has taken a beating the rates start at 4% to 25%.
Always check with the "Obligee" for details
Our application process for a Statutory Bond is easy. You can apply for the Statutory Bond Application .Find this bond for another state
Obligee InformationAn obligee is the entity that is requiring you to have the Statutory.
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