What Is Required To Get A Surety Bond?
In order for a company to qualify for a surety bond it must have a positive review. Good credit, detailed and thorough financial records, as well as positive feedback from customers are all attributes that a company must have in order to acquire a surety bond. Like applying for a business loan or home mortgage, the application goes into underwriting in hopes that the business will qualify for the bond. These bonds are very important policies but one must realize that these bonds do not protect the business, they protect the customer. It’s important for the customer to educate himself when purchasing a product or service from a company. Read the fine print. Make sure the company is bonded and most important, take the attitude of “buyer beware”.
