That’s why the quickest and most accurate way to determine your bond type and amount is to contact the “Obligee,” or the party requiring you to get a surety bond.
For example, anyone opening a car dealership in Florida is required by the state to get a Florida Dealer License. Part of the requirements to be licensed is to have a surety bond.
Since this requirement is set by the Florida Department of Highway Safety & Motor Vehicles, that makes them the Obligee. Depending on the type of vehicle you plan on selling, you’ll need a specific bond type and amount to meet the state’s requirements.
On the other hand, some bonds, including janitorial, dishonesty, fidelity and theft bonds don’t have an Obligee or a set bond amount. In these cases, business owners are free to determine the amount of coverage that best fits their business needs.
Bonds of this type are typically purchased by cleaning companies, contractors and service providers to protect against employee theft. They are also instant-issue, which means you can purchase online and become bonded in a matter of minutes.
Whether you need an ERISA Bond, Contractor Bond, Car Dealer Bond, or any other type of bond, start your quote and application process today!