License and Permit Bonds
States, cities and other authorities can require businesses to obtain a license or permit to engage in certain activities. BuySurety.com specializes in these license and permit bonds! These bonds function as a guarantee from a Surety to a government and its constituents (Obligee) that a company (Principal) will comply with an underlying statute, state law, municipal ordinance, or regulation. Specific examples include:
  • Auto Dealer Bonds, also know as motor vehicle dealer (MVD) bonds, used car dealer bonds, or simply car dealer bonds, guarantee that the car dealer manages the dealership according to the requirements of the state in which it is operating.
  • Broker’s bonds, including Insurance Broker Bonds, Mortgage Broker Bonds, and Title Agency Bonds
  • Contractor’s license bonds, which assure that a contractor (such as a plumber, electrician, or general contractor) complies with local laws relating to his field.
  • Customs bonds, including importer entry bonds, which assure compliance with all relevant laws, as well as payment of import duties and taxes.
  • Health spa bonds, which assure that a health spa will comply with local laws relating to their field, as well as refund dues for any prepaid services in the event the spa closes.
  • Money transmitter bonds
  • Motor vehicle dealer bonds
  • Reclamation bonds assure that sufficient funds are available for the applicable permit issuer to reclaim a site if a developer fails to complete the reclamation plan approved in the permit.
  • Tax bonds, or Sales Tax Bonds, which assure that a business owner will comply with laws relating to the remittance of sales or other taxes.
  • … and many more.