New Hampshire Surety Bonds

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Surety Bond Professionals has been meeting the bonding needs of clients nationwide for more than 30 years. Our experienced and knowledgeable agents are ready to help with any New Hampshire surety bonds you may need.

Continue reading below to learn more about common New Hampshire bonding requirements, or use our online form to request a quote now.

Required Surety Bonds in New Hampshire

Typical New Hampshire bonds include (click on any for more info):

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Required Surety Bonds in New Hampshire

Most of the surety bonds issued in New Hampshire fall into one of three broad categories: construction and contractor bonds, license and permit bonds, and court bonds. Although there are other types of surety bonds, these are the ones that are most commonly needed.

New Hampshire Construction Bonds

New Hampshire has its own version of the federal Miller Act, which sets certain bond requirements for contractors working on federal projects valued at more than $100,000. New Hampshire’s “Little Miller Act” applies to state-funded public works projects valued at $25,000 or more. It requires contractors to post both payment and performance bonds, each in the full amount of the contract value:

  • A performance bond ensures that the contractor fulfills all contractual obligations ethically and in compliance with the law. These bonds provide financial protection for the state and for New Hampshire consumers and taxpayers. Learn more.
  • A payment bond is the contractor’s guarantee to pay suppliers, subcontractors, and laborers in a timely manner, in compliance with the terms of the contract. Learn more.

In addition to the state and federal requirements, municipalities and some private project owners may also require bonds for large projects.

New Hampshire License & Permit Bonds

In New Hampshire, certain professionals and businesses must be licensed by the state in order to operate legally. Purchasing a license and permit bond is often a requirement for obtaining or renewing a business license in the state. The bond protects the state and consumers against financial loss due to the unlawful or unethical conduct of the licensee.
Common businesses subject to this licensing and bonding requirement include:

  • Motor vehicle dealers
  • Paid solicitors
  • Small loan lenders
  • Mortgage bankers, lenders, and brokers
  • Finance companies
  • Debt adjustors
  • Operators of games of chance
  • Private investigators
  • Security services and bail bondsmen
  • Career schools
  • And others

If you’re unsure whether or not you need a license bond, contact an agent, who will be happy to walk you through your bonding requirements.

New Hampshire Court Bonds

Common bonds required in New Hampshire courts include:

  • Appeal bonds, which ensure the return of property or payment of court-ordered damages, court costs, and legal fees by the losing party.
  • Fiduciary bonds, which guarantee that court-appointed guardians, custodians, estate executors, bankruptcy trustees and others with fiduciary control over the funds and property of others fulfill their duties in accordance with the law and the rules of the court.

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Our experienced professionals will gladly answer any questions you may have about New Hampshire surety bonds to help you get the bonds you need. Request a quote today!

Frequently Asked Questions

There are three parties to every surety bond agreement, which is a legally binding contract:

  • The “obligee” is the state or local agency requiring the surety bond.
  • The “principal” is the party required to purchase the bond.
  • The “surety” is the company underwriting and issuing the bond.
  • The obligee sets the required amount of the bond, which is the maximum amount that will be paid out on a claim. The obligee also spells out the conduct required of the principal in order to avoid claims against the surety bond.

Any party who suffers a financial loss because the principal has violated the terms of the bond has the right to file a claim against the bond. The principal is solely responsible for paying all valid claims.

However, the surety will often pay a claim and wait to be reimbursed by the principal. This ensures timely settlement of the claim and gives the principal some time to gather the necessary funds.

What the principal in a bond agreement actually pays for a surety bond is a small percentage of the required bond amount established by the obligee. That percentage, known as the premium rate, is determined by the surety company based on the applicant’s credit score and other indicators of the likelihood of claims being filed against the bond. Those with good credit can expect a rate of 1-3%. Those with poorer credit may pay a higher premium.
No claim against a bond will be paid until the surety company has investigated and determined that it is valid. After making payment to a claimant, the surety company will demand reimbursement from the principal.