Wisconsin Surety Bonds

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Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Wisconsin surety bond needs.

Required Surety Bonds in Wisconsin

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

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Required Surety Bonds in Wisconsin

In every state, including Wisconsin, there are three broad categories of surety bonds: construction and contractor bonds, license and permit bonds, and court bonds. Within each of these categories, there are a number of different kinds of surety bonds.

Wisconsin Construction & Contractor Bonds

Contractors who work on certain construction projects—specifically public works projects—may be required by the state or by local authorities to obtain construction and contractor bonds such as bid bonds, payment bonds, performance bonds, and so on.

Wisconsin License & Permit Bonds

State and local agencies also require people applying for certain types of business licenses or permits to carry out certain projects. For example, a license bond is one of the conditions for becoming licensed as a Dwelling Contractor. In certain municipalities, contractors may be required to purchase a surety bond before being allowed to work in those jurisdictions.
Licensing and bonding is also required for auto dealers, health spas, money transmitters, and a number of other business fields and professions.

Wisconsin Court Bonds

Wisconsin courts at every level may impose a bonding requirement on people appealing a court decision that involves contested property or financial damages. A court bond also may be required for someone assuming fiduciary responsibilities, like an executor of an estate, a guardian of a minor, or a custodian of an adult.

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Whatever type of Wisconsin surety bond you might need, you can rely on Surety Bond Professionals to help you get it at the most competitive rate. Apply now!

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.