Archive for December, 2014
public official surety bond upon election. The problem was not in the election process nor was it with any questions about her ability to take on her elected office. But her approval process was held up by a technicality the Commissioners Court had not anticipated, regarding her ability to qualify for her surety bond.
Requirements for a Public Official Surety BondThe one little thing that seems to have tripped up the elected county clerk is that she must be able to provide a bond to secure her position. Most states require any public official to provide a surety bond to guarantee their honesty and faithful performance of their duties to the public. The amount of the public official surety bond differs from state to state. In Texas, the surety bond amount required is $400,000. While Garza-Perez was able to obtain a surety bond for $100,000, she does not have the liquid assets to qualify for the larger surety bond amount.
Exploring Other OptionsThe Commissioners office has stated that they are exploring other options to assist in meeting the legal requirements; including obtaining four separate $100,000 surety bonds instead of one bond of $400,000. The stumbling block may be resolving the need for $400,000 in liquid assets as opposed to net worth. The difference between the two may be the reason behind Ms. Garza-Perez’s current dilemma.
Finding Surety Bonds Quickly at BuySuretyThis is a good example of why it is so important to talk to a surety bond provider such as BuySurety whenever you are aware you may need a surety bond in the near future. Getting prequalified for a surety bond such as the public official surety bond that was required here would have bypassed this problem altogether. Don’t wait until you are up against a deadline before you look into your surety bond needs. While BuySurety can provide you with fast easy service, it is always better to be sure you will qualify for the amount of surety bond you need as soon as you know you will need it. From an Administrator Bond to a Yacht Salesman Bond, we have every kind of surety bond you can need. Contact one of our helpful Customer Service Agents today and find out just how fast and easy it is to get bonded with BuySurety.
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