Miscellaneous Commercial Surety Bonds

License & Permit Bonds

Compliance Only: The principal must possess acceptable credit and must otherwise qualify for the license sought. At minimum this will be determined by a personal credit report. Should minimum credit not be met, a co-signer with preferred credit could be required.

For Contractor License Bonds: If underwriting indicates unsatisfactory public records, Sub-Standard rate shall apply.
Factors or issues that may lead to a non-standard rating, additional security or declination are, but not limited to:

• Business and/or personal credit report may be below average
• Principal may be in litigation
• Accounts receivables may be pledged or in dispute
• Real estate is pledged to secure a bank line of credit
• Principal has loan guaranteed by the SBA
• The contractor performs work involving hazardous material
• The contractor has unpaid tax obligations
• The contractor has a bankruptcy in the past four (4) years
• Another bonding company declined or previously cancelled a bond
• There is a claim against a bond
• The contractor has a judgement awarded against them
• The contractor has collection accounts


Definition & Obligation

Contractor’s License
Bond guarantees to repay, reimburse and hold harmless any person damaged as a result of the violation of the code. Also covers any person damaged as a result of fraud in the performance of any written construction contract.