17. Why the Large Gap in Costs? There are two different markets: Standard High-Risk “Standard” is cheaper.
18. I want to be “Standard” then! To qualify for Standard premiums, you’ll need to meet some criteria. Been in Business > 1 year. Credit score > 650. No prior surety bond claims. 3+ years experience in your industry. Personal net worth 1-3x the bond amount.
19. Non-Standard or “High Risk” You can still obtain a surety bond if you do not meet the “Standard” criteria. Have no prior surety bond claims. Are a US Citizen.
20. Our Takeaways Talk to a Bonding Agency, like SuretyBonds.om Price will vary greatly based on situation. Standard and Non-Standard surety bonds are available.
21. Produced by the SuretyBonds.com Education Center www.suretybonds.com/edu www.suretybonds.com/blog