Surety bonds can often be overlooked when considering what a small business needs to operate within a state. Failing to understand and comply with a state’s small business surety bond mandates can lead to trouble. Jurisco knows what local governments expect out of a small business when it comes to surety bonds. The bond professionals on staff are here to make sure small businesses don’t get tripped up over bonding issues.
Why would a business need a surety bond?
Small business surety bonds are used by the state to help protect residents and consumers. A few examples of small business surety bonds are health club bonds, licensed broker bonds, seller of travel bonds, and bid protest bonds.
A health club bond is a surety bond that guarantees any prepaid dues or fees. This protects consumers from losing money if a business closes or fails to comply with a contract.
States protect financial investments, as well. A sales finance bond is required for a licensed broker. This surety bond protects those who enter into business with the seller against fraud.
Any individual or business who handles selling or purchasing airline tickets must have a seller of travel bond. This type of small business bond is mostly well known in California and Florida, but it is required in other states, too.
Small businesses can use a bid protest bond when they feel a local municipality did not follow all bid procedures. A bid protest bond could help a small construction company have the same access as the largest of construction firms.
Do small business surety bond requirements differ by state?
Each state has its own set of surety bond mandates. Generally, small business surety bond requirements are handled by the Secretary of State. Being a nationwide surety bond provider, Jurisco is well versed in every state’s small business surety bond mandates.
Jurisco clients can count on state expertise for all their small business surety bond needs. Have a question about a surety bond? A surety bond expert at Jurisco will have the answer, guaranteed.
How fast can a small business surety bond be secured?
The bond experts at Jurisco understand how important it is for business to meet state regulations. Losing time rarely helps the bottom line. Small businesses cannot afford to be held up in delays caused by surety bonds. That’s why Jurisco provides same day small business surety bond service in all 50 states.