Montana License Bond And Other Surety Bond Uses

December 28, 2017 by · Leave a Comment 

Montana still has its rough exterior of mountains, snow, and miles of roadways with farms and undeveloped land. And while this country is a peaceful home to many, it can give the outward appearance of not being up with the times. That’s just simply not true, however. Montana beats to its own drum while still following the practices of the rest of the country. And though a Montana license bond doesn’t seem the obvious example of this, surety bonds are an important way for the state to take advantage of all the protections both past and current laws provide them.

Why Does Montana Have Surety Bonds?

Montana depends on surety bonds because they offer a wide range of protection without months of red-tape and approval. Surety bonds can be used to protect defendants against wrongful action from the plaintiff or to the trustee who is overseeing a trust until a person reaches 25 years of age.

The state also works to make sure surety bonds are easy to obtain. A surety bond is so straightforward that it can be secured with same-day service. The value of the bond could also be in the thousands with the cost only being in the hundreds. Surety bonds are designed to be useful to Montana residents and businesses.

What Types of Montana License Bonds are Required?

License and permit bonds are a specific type of Montana surety bond. A Montana license bond is a type of surety bond that is required by businesses. These bonds are designed to protect the consumer from unlawful action such as misuse of funds. A few examples of a Montana license bond are mortgage broker bond, travel agent bond, title agency bond, and health club bond.

A mortgage broker bond is for an individual or company serving as holder/seller of a mortgage. A travel agent bond is meant to protect consumers from fraud and theft. A title agency bond ensures the agency isn’t misusing customer funds and payments. And a health club bond is a financial backstop for members who may find themselves without a gym membership when the gym closes but still has a positive balance in their membership account.

All of these Montana license bonds are structured in such a way as to offer the fullest protection possible. Failure to comply with Montana license bond requirements may result in fines, fees, and even a loss of business.

What Other Surety Bonds Can Be Used?

Other types of Montana surety bonds include plaintiff bonds, defendant bonds, and probate and fiduciary bonds. These bonds again are designed to a specific purpose. For example, a plaintiff bond is written to protect the defendant from unlawful action. And the defendant bond is written to protect the plaintiff from unlawful action.

Surety bonds are used across the state from farmers protecting their land from liens to the executor of a will doing his or her duty to handle the last will and testament of an estate. A Montana surety bond is, in fact, the most likely solution to a problem concerning a legal action or management of funds.

Where is a Montana Surety Bond Expert Available?

Need to speak to a Montana surety bond expert? Contact the lawyer-trained staff at Jurisco. At Jurisco you can speak with a Montana surety bond expert whenever you need them. They have answers to your questions about a Montana license bond, surety bond rates, and more. You can trust to let the surety bond experts take care of everything.

 
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