Get the free SURETY BOND

This document serves as a surety bond acknowledging the indebtedness of the principal to the City of Salina, Kansas, related to securing necessary licenses and permits for conducting business according

How to fill out surety bond

How to fill out SURETY BOND

1. Obtain a Surety Bond application form from a licensed surety company.
2. Fill in your personal and business information, including your address, phone number, and type of business.
3. Provide details about the bond type required and the bond amount needed.
4. Submit any required financial documents, such as credit history, bank statements, or business financials.
5. Review the terms and conditions of the bond carefully.
6. Sign and date the application form.
7. Submit the completed application to the surety company along with any fees.

Who needs SURETY BOND?

1. Contractors who need to secure a contract bond for public or private projects.
2. Business owners seeking licenses that require a surety bond as part of their licensing process.
3. Individuals involved in court cases that may require a bond, such as appeal bonds.
4. Insurance agents who facilitate bonds for clients' compliance with state regulations.

People Also Ask about

What is the purpose of a surety bond?

$5,000 surety bonds typically cost 0.5–10% of the bond amount, or $25–$500.

What surety bond?

A surety bond is a three-party written agreement by which one party (the surety) guarantees another party (the obligee) that a third party (the principal) will perform ing to the bond, statute, contract or other obligation.

How much does a $5000 surety bond cost?

$5,000 surety bonds typically cost 0.5–10% of the bond amount, or $25–$500.

What is surety bond in English?

Meaning of surety bond in English. a legal agreement in which someone promises to pay a person or organization a sum of money if another person does not do something they had promised to do: Contractors are not required to post a surety bond, but they must have at least $3 million in liability insurance.

How much does a $5000 surety bond cost?

Surety Bond Amount The bond amount represents the maximum coverage the surety will provide in the event of a claim, so the riskier the bond's purpose, the larger the bond amount typically required, and consequently, the higher the premium. The cost is a percentage of the bond amount.

What is a surety in English law?

A person who agrees to be liable for a present or future obligations of another (the principal) to a third party in addition to the liability of the principal.

For pdfFiller’s FAQs

What is SURETY BOND?

A surety bond is a contract among three parties: the obligee, the principal, and the surety. It guarantees that the principal will fulfill their obligations to the obligee, providing a financial assurance to the obligee in case of default.

Who is required to file SURETY BOND?

Typically, individuals or businesses that are required to obtain licenses, permits or contracts that require a financial guarantee must file a surety bond. This includes contractors, suppliers, and various professionals in regulated industries.

How to fill out SURETY BOND?

To fill out a surety bond, the principal must provide accurate information regarding their identity, the nature of the obligation, the bond amount, and any other relevant details as required by the surety company. The bond must then be signed by all involved parties.

What is the purpose of SURETY BOND?

The purpose of a surety bond is to protect the obligee against financial loss due to the principal's failure to meet their obligations or adhere to the terms of a contract. It ensures that there is a financial remedy in place.

What information must be reported on SURETY BOND?

The information that must be reported on a surety bond typically includes the names and addresses of the principal and surety, the amount of the bond, the purpose of the bond, the effective date, and any obligations that the principal must fulfill.