This guide walks you through the process of getting a business bonded and insured. Learn what it means to be bonded, what a bond is for, and where to get a bond.
Bonding Insurance Overview
Typically, the governing body (obligee) that regulates the specific bonding requirement will tell a business if they are required to be both insured and bonded.
Bonds and insurance are two separate products. Surety bonds are a type of insurance, but there are many differences between the function of insurance and bonds. There are also differences in the surety bonding process and the process for obtaining insurance. A business needs to first determine if a surety or a fidelity bond is needed. A surety bond is required by a third party (usually the government) while a fidelity bond is insurance for the business.
Surety bonds include a three party agreement between the obligee, the principle, and the surety company. Bond insurance is known as “financial guarantee insurance”.
Bonds are a risk management tool that strengthens a business financially and ethically. A business that is able to tell customers they are bonded and insured has an excellent way to express the reliablity and trustworthiness of their company.
Where to Buy a Bond
It is important for a business not to go through an insurance agent for a bond, since a bond is a specific type of insurance that needs to be processed by a skilled surety bond agent. Using an insurance agent could cause delays and ultimately a higher cost. Surety1 knows how to properly and legally handle claims while achieving the best possible rates for clients.
What it Means for a Business to Be Insured
Bonding insurance for a business means the bond issuer guarantees the repayment of the principle (the business). If a business is insured, that means it has the proper insurance and has made payments to a surety company to be protected by a bond.
A common case in which bonding insurance is crucial is when a worker gets hurt on the job, and a claim can be filed against the business’ insurance. For example, if a company is hired to fix a driveway and an employee gets hurt while working, then a claim can be filed against the homeowner’s insurance. However, if that company is bonded and insured, then the claim will be filed against the company’s insurance instead. When deciding on a company to hire, clients will choose a bonded and insured company since they know that they will be protected after an unwanted incident.
Bond Cost
There is only a one-time cost to purchase a bond with Surety1. Surety1 agents strive to achieve the best possible rate for their clients. The factors that play into cost for a bond are the credit score of the applicant, bond type and amount, and the underwriter that is chosen.
Examples of Insured Businesses
These are two examples of business types that are required to be both insured and bonded.
Public Notary
Notary bonds are required in most states such as California to protect clients of the Notary from misconduct or unethical acts by the Notary. A Notary bond is inexpensive and lasts for 4 years.
A Collection Agency
A Collection Agency Bond is required in some states and protects the customers of collection agencies from fraud and ensures the agency is abiding by State statutes.
Steps to Become a Bonded and Insured Business
Follow these steps to your business bonded and insured. The particulars may vary for your specific business, but this should serve as a general guide.
1. A business should be required by an obligee to be bonded, licensed or insured. The obligee is the person or entity that is requiring you to get your business bonded, such as the State or the Department of Motor Vehicles.
2. Check with the state government to find out if a bond is required for a certain type of business.
3. Find a qualified bond agency such as Surety1. Local insurance agents may be able to help with surety bonds, but they are not as experienced and do not have access to the best available bonding programs.
4. After the steps above are completed, visit Surety1.com to apply for the bond. It is free to apply, so there is no obligation until you’ve decided to proceed with obtaining the bond. A Surety1 agent will be in contact with you shortly after application. The agent will discuss cost and answer any extra questions you may have.
5. If the agent requests them, provide any extra supporting documents. An experienced agent will have the bond ready for shipment either the same business day of application or the following business day.
6. Once you pay for your bond, it will be shipped directly to you. Payment for the bond is paid in full and can be made on the Surety1 website or over the phone. Surety1 agents work to find clients the best possible rate for the bond in a timely manner. Surety1 provides multiple shipping options to get your bond to you as quickly as possible.
7. After you receive your bond in the mail, you can turn it in to the governing body that requires the bond (the obligee).
Apply for Your Bond
Surety1 provides all bonds for business, licensing, construction, permit, and court purposes. To get started, apply online for the bond that you need.
1. Complete an online application.
2. One of our surety experts will call and email you with the firm quote and an agreement to sign.
3. Provide payment and your signed agreement, then you will receive your bond!
2. One of our surety experts will call and email you with the firm quote and an agreement to sign.
3. Provide payment and your signed agreement, then you will receive your bond!
Get More Help
Call us toll free at 877-654-2327. We have live surety bond agents available Monday – Friday, 8:00 – 4:30 PST. We’re glad to help!
Notary Public Bond: What is it?
As a condition of licensing, some states require licensees to obtain a notary bond. This surety bond may alternately be referred to as a notary public bond, a notary surety bond, or simple a notary bond. All of these phrases mean the same thing.
The notary public bond is a surety bond which is a financial guarantee that a licensed notary will be in compliance with all rules, regulations, and statutes in the performance of their professional duties (sometimes referred to as ‘notarial acts’) as a notary public.
Along the same lines, a common misconception is that a notary public bond is for the protection of the license notary. This is not true at all.
Rather, besides being a condition of licensing for states which require it, the bond is for the protection of the consumer public and the state which issues the notary license. The surety bond protects these others from wrongful or negligent acts committed by a notary; the notary licensee is not protected at all by a notary license.
States Which Require a Notary Public Bond
The following states (and Washington DC) currently require a notary to obtain a surety bond as a condition of licensing:
- Alabama
- Alaska
- District of Columbia
- Hawaii
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Mississippi
- Missouri
- Montana
- Nebraska
- North Dakota
- Oklahoma
- South Dakota
- Tennessee
- Wisconsin
- Wyoming
How To Get A Surety Bond For Notary Public
AmeriPro Surety Bonds offers the notary bond for all states where this is a requirement.
Purpose of A Notary Bond
At the risk of sounding redundant, it’s still an important to reiterate a second time.
The notary bond is solely for the protection and benefit of the consumers whom you serve, and the regulatory body which oversees the licensing of notaries.
More specifically, while the job of a notary is to witness signatures in an effort to prevent fraud, the surety bond requirement of notaries is to protect the consumer and the state licensing entity against acts of fraud, theft, or malfeasance committed by a licensed notary in the performance of notarial acts.
Vray for sketchup 2018 free download with crack 64 bit. Your notary bond is not an insurance policy.
In the event that a claim were ever paid against your notary bond, your legal obligation would be to reimburse the surety for all fees paid.
However, the aggregate total of the liability paid by the surety will not exceed the amount of the bond.
Errors and Omissions Insurance for Notaries
While a notary bond is required and protects others as condition of licensing, an E&O policy is not required but is a way to protect the notary from liability caused by mistakes.
While an E&O policy may not be required, some entities won’t hire a notary without it. Options may exist to purchase an E&O policy if you choose, at the time that the notary bond is purchased.
Qualifying for a Notary Bond: ‘So Easy, a’….You get the idea
Obtaining a notary bond is simple in the extreme. You will need to complete an application, provide the date of your notary commission, and pay the required fee. Once received, the application is processed by our agency. There is no credit check necessary for Notary Bonds.
The bond is issued to you immediately and the original mailed to you same day or the next business day, at the latest. We can also email you a copy of your notary bond; however, for filing with the state regulatory office, you will need the original notary bond.
The Cost of a Notary Bond
The cost of any notary bond offered by AmeriPro Surety Bonds is:
- $50.00, with the exception of state of Louisiana
- This is a one time fee for the term of your notary bond license.
Once issued, the bond is active for the term of your license. Some states have 4, others 6 year license terms.
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The notary bond, frankly is an easy thing to purchase and be done with; but the surety bond is of critical importance as a financial guarantee of your compliance with all laws for the protection of the consumer (public).
About AmeriPro Surety Bonds
AmeriPro Surety Bonds provides notary bonds and related surety bonds and can issue bonds in any required amount. We thank you for your consideration (we know full well that you have many good surety choices) and we look forward to working with you.
For personalized support, please call us today at 844-589-9732
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Notary bond cost
The Nebraska Secretary of State requires that notary publics post a $15,000 surety bond. You’ll pay just $40 for a 4-year Nebraska notary public bond when you work with us! Since there’s no credit check required, everyone qualifies for the same low rate. Errors and Omissions Insurance is also available for $40.
Our team of experts can get you the bond you need right away for just $50! Call 888.610.4474 or submit a bond requestto get started!
Why this bond
By posting a Nebraska notary surety bond, a notary public pledges to ethically and lawfully perform all duties commissioned to him or her by law as a general notary public within the state.
You’ll only have to pay $40 for this 4-year bond when you work with us! Our experts can get you the notary bond you need instantly without a credit check.
Notary bond details
Notary bonds in Nebraska last for 4 years from the effective date of the notary’s commission.
Our surety experts are familiar with this surety bond requirement and are ready to get you the bond you need quickly, easily and accurately. In fact, you’ll receive a copy of your bond the same business day!
Become a notary
What Is A Notary Bond
Notary publics must do the following before they can become licensed in Nebraska:
- post a $15,000 surety bond
- complete the application form in black ink
- pay the $30 commission fee
- submit the U.S. Citizenship Attestation form
- supply evidence of employment
- and more
Once all requirements for licensure have been met, all of the original documents must be sent to the Notary Division of the Secretary of State Office in Lincoln, Nebraska.
Apply for your surety bond
Get a FREE Nebraska Notary Bond Quote Today! Click here to begin