Where To Get A Nd Notary Bond | Where To Get A Nna Notary Bond

Non-Standard Surety Bonds vs. Standard Surety Bonds

What are Non-Standard and Standard Surety Bonds?

The standard surety bond market most often suits clients with good to excellent credit and previous business experience.  The nonstandard surety bond market is generally reserved for those individuals or businesses with credit or experience which does not qualify them for the standard surety bond market.

What credit/experience qualifies me for the Standard Surety Bond market?

An individual or business can generally qualify for the standard surety bond market with three years previous business experience and a good to excellent credit score.  However, these factors can often be overcome depending on the quality of a company’s financial statement or sufficient personal net worth.  DBL Surety’s goal is to always place our clients within the standard surety bond marketplace when possible.

Are there different rates associated with the Standard and Non-Standard Surety Bond markets?

Yes.  The standard surety bond market typically charges a rate between 1-3% of the total bond amount needed.  The exact rate charged depends on a variety of factors such as the length of time the business has been in operation, personal credit score(s), risk to the surety company, type of bond, etc.

The nonstandard surety bond market can charge rates up to 15% of the total bond amount needed.  Again, the exact rate charged depends on a variety of factors such as the length of time the business has been in operation, personal credit score(s), risk to the surety company, type of bond, etc.

Which surety bond market is right for you or your business?

The best way to determine which surety bond market is right for you or your business is to fill out are simple, one page application.  We offer no obligation quotes and, in many cases, have the authority to issue bonds immediately.  As mentioned above, DBL Surety strives to find the lowest rates for our clients regardless of whether they fall into the standard surety bond market or the nonstandard surety bond market.  However, we understand that individuals and businesses alike can fall on hard times and the nonstandard surety bond market may be the only choice.  Rest assured that all surety bond markets we work with are certified by the United States Treasury Department.