How Much Does A Surety Bond Cost?
The surety bond process can be overwhelming and confusing for newcomers. That’s why it’s important to have someone in your corner with knowledge and expertise about surety bonds. At Surety Bond Professionals, our expert agents are here to help. Many people have asked us, “How much does a surety bond cost? And what factors are involved in providing that final number?” To answer this common question, we outline some of the factors that decide how much surety bonds cost. Of course, the easiest way to determine the cost for your specific needs is to request a quote. Learn more below, or request a quote through our online system today! How much do bonds generally cost? The pricing for contract and commercial surety bonds can vary but typically falls between .5% and 3% of the contract price or bond amount, based upon the type of bond required. The exact percentage is dependent upon the surety’s assessment of the risk involved with the guarantee being provided. Some bonds are more onerous and risky than others and likewise some applicants are stronger than others. This is why each situation is unique and there is a range of product pricing. What are the...
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