-
What are Surety Bonds? Explained with Examples
Hi, Greg here of Surety Bond Authority. A surety bond basically provides a guarantee that a specific task – such as a contractor completing a building project or a travel agency using client funds to purchase elements of the itinerary – is completed to the terms of a contract or in line with laws and regulations.
If you are wondering WHAT a surety bond is, WHO are involved in it, and HOW they work, then here's a definitive explainer guide. This video is a brief introduction to surety bonds by Surety Bond Authority.
To know more about surety bonds, you may visit: https://suretybondauthority.com/learn-more/.
You'll get to know:
"How much a Surety Bond costs";
"The Process of getting a Surety Bond";
"How long will it take for a surety bond application to be approved";
"What are the type...
published: 30 Apr 2018
-
What Is A Surety Bond?
If you’re wondering what a surety bond is, you’ve come to the right place. SuretyBonds.com has developed this guide to give you a quick and easy to understand explanation of surety bonds. I’m Danielle, and I’ll be explaining what surety bonds are, how they work and who needs them.
A basic definition explains that a surety bond brings three parties together in a legally binding agreement. These three parties are known as the principal, obligee, and surety. First, we have the principal, which is the professional or business that much purchase the bond. When a principal purchases the bond they provide a financial guarantee and prove their ability to follow certain laws and regulations. Second, we have the obligee which is the party that requires the principal to purchase the bond. The oblig...
published: 22 Mar 2012
-
How Much Does A Surety Bond Cost?
This is the Suretybonds.com Education Center. Today we are looking at a question we get a lot and that is this: how much does a surety bond cost? Well how much does a surety bond cost? It depends on what type of bond you’re going to get. It really just depends. Why? There are thousands of types of surety bonds out there. There are janitorial bonds, mortgage broker bonds, bonds for construction and building apartment complexes, etc. They go from Washington state to Florida and back up to Maine. It depend on the type of bond you’re going to get. It also depends on a couple of other things about your own personal history. The big one is credit score. In a lot of ways getting a surety bond is a lot like getting a home loan or car loan or anything like that, that is more traditional for you to ...
published: 25 Mar 2010
-
😀💥Freight Broker Surety Bond...10 BIG Tips💥😀
Freight Broker Surety Bond..10 BIG Tips
In today's video I'm going to share some important information about the Freight Broker Surety Bond and 10 BIG Tips that will help you make the best decision as it pertains to acquiring the freight broker surety bond.
Here's what you'll learn.
⭐1. What is a freight broker surety bond?
⭐2. Who must obtain a freight broker surety bond?
⭐3. What type of bond is required for freight brokers?
⭐4. What is a BMC -84?
⭐5. What is a BMC-85?
⭐6. What factors determine freight broker surety bond price?
⭐7. How much should you pay for a freight broker surety bond?
⭐8. Should you renegotiate your freight broker surety bond after the first year?
⭐9. What is an indemnity agreement?
⭐10.Which freight broker surety bond provider company should you choose?
🔥 Reg...
published: 24 Feb 2020
-
So...you were told you need a surety bond. [Here's what you need to do.]
Surety bonds are a very different type of insurance. The bond insures the party asking for the bond rather than you, the person buying the bond.
Think of a surety bond as paying an insurance company to be your cosigner. The bond is your guarantee you'll do something, such as pay a bill, obey set rules or complete a job.
The surety bond requires you pay the insurance company back if a valid claim is made against your guarantee. The insurance company is co-signing for you, they're not insuring you.
You're being insured against your potential failure with the group that told you to get the bond. Any losses or damages incurred, the insurance company passes those right back on to you.
Visit SuretySolutions.com to get free quotes for your surety bond!
Surety bonds are underwritten a bit ...
published: 12 Dec 2019
-
Surety Bonds Lesson - The 6 Types of Surety Bonds (2020)
Surety Bonds Lesson from your favorite tito is back this weekend! Now that we've tackled what a surety bond is, it's time to dive a little bit deeper into what kinds there are in the market. So today, we're going to tackle the 6 types of surety bonds!
From court rooms to construction sites, many business processes and applications may need bonds to help establish trust and protect both parties from abuse. These six types of bonds cater to different business and legal needs. Let tito walk you through these types before we take a deeper look ito each of them!
__________________________________________
Property Insurance Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jh8NyO0iUm9CPY1JCA1FxXo
Motorcar Insurance Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jh3k29hR_g...
published: 05 Sep 2020
-
What Are The Types of Surety Bonds? 🏦🧐
Surety Bonds Explained | Surety Bonds vs Insurance
This video reviews the basics of Surety Bonds that include parties to the contract and the different types of contract bonds, fiduciary and court bonds, license and permit bonds.
0:00 Surety Bonds Explained
0:22 Surety Bonds vs Insurance
0:53 Parties to Surety Bond
2:08 Contract Bonds
3:40 Fiduciary and Court Bonds
5:28 License Bonds and Permit Bonds
6:46 Other Bonds
#SuretyBonds #Insurance #Riskmanagement #InsuranceTraining
published: 14 Jan 2018
-
What is a Surety Bond?
Source: https://www.jwsuretybonds.com/edu/what-are-surety-bonds?utm_source=youtube.com&utm_medium=Social&utm_campaign=JW+Page+Posts&utm_content=What+is+a+Surety+Bond+Video+Description
What exactly is a surety bond?
It can be confusing at first to figure out how a bond really works -- and who needs to get bonded.
Let’s start with the basics. A surety bond is a legally binding contractual agreement between three parties.
The first party is you, the principal, who needs to obtain a bond.
The obligee is the entity requiring you to get bonded. In most cases the obligee is a government agency.
The third party is the surety company that backs the bond.
The surety bond guarantees that you, as the bonded principal, will fulfill the terms outlined in your bond. You can think of the bond a...
published: 14 Apr 2021
4:41
What are Surety Bonds? Explained with Examples
Hi, Greg here of Surety Bond Authority. A surety bond basically provides a guarantee that a specific task – such as a contractor completing a building project o...
Hi, Greg here of Surety Bond Authority. A surety bond basically provides a guarantee that a specific task – such as a contractor completing a building project or a travel agency using client funds to purchase elements of the itinerary – is completed to the terms of a contract or in line with laws and regulations.
If you are wondering WHAT a surety bond is, WHO are involved in it, and HOW they work, then here's a definitive explainer guide. This video is a brief introduction to surety bonds by Surety Bond Authority.
To know more about surety bonds, you may visit: https://suretybondauthority.com/learn-more/.
You'll get to know:
"How much a Surety Bond costs";
"The Process of getting a Surety Bond";
"How long will it take for a surety bond application to be approved";
"What are the types of Surety Bond";
"What if a claim is made on a Surety Bond"
and many more!
====================
I’ll be happy to answer your Surety Bond-related questions!
If you have any questions about Surety Bonds, don't hesitate to leave a comment below and I'll try my best to assist you with your queries.
Or if you prefer to explore the nature of surety bonds, its different types, how it works, and the cost and process of getting one, you could visit Surety Bond Authority's website below:
https://suretybondauthority.com/
====================
You could also get FULL access to all of our offered Surety Bonds nationwide, just visit: https://suretybondauthority.com/map/
FREE eBook! - Grab a copy of our FREE eBook, "The Complete Buyer’s Guide to Surety Bonds": https://suretybondauthority.com/e-book/
====================
SUBSCRIBE for more content!
If you liked this video, please consider subscribing to this YouTube channel to get instant updates on our new content.
YOUTUBE - Subscribe to our YouTube channel:
https://www.youtube.com/channel/UC6qSNIC3vxATcGECccRbFrQ
You could also like our Facebook page to keep tabs on surety bond-related posts and updates.
FACEBOOK - Connect on our Facebook page:
https://www.facebook.com/suretybondauthority
https://wn.com/What_Are_Surety_Bonds_Explained_With_Examples
Hi, Greg here of Surety Bond Authority. A surety bond basically provides a guarantee that a specific task – such as a contractor completing a building project or a travel agency using client funds to purchase elements of the itinerary – is completed to the terms of a contract or in line with laws and regulations.
If you are wondering WHAT a surety bond is, WHO are involved in it, and HOW they work, then here's a definitive explainer guide. This video is a brief introduction to surety bonds by Surety Bond Authority.
To know more about surety bonds, you may visit: https://suretybondauthority.com/learn-more/.
You'll get to know:
"How much a Surety Bond costs";
"The Process of getting a Surety Bond";
"How long will it take for a surety bond application to be approved";
"What are the types of Surety Bond";
"What if a claim is made on a Surety Bond"
and many more!
====================
I’ll be happy to answer your Surety Bond-related questions!
If you have any questions about Surety Bonds, don't hesitate to leave a comment below and I'll try my best to assist you with your queries.
Or if you prefer to explore the nature of surety bonds, its different types, how it works, and the cost and process of getting one, you could visit Surety Bond Authority's website below:
https://suretybondauthority.com/
====================
You could also get FULL access to all of our offered Surety Bonds nationwide, just visit: https://suretybondauthority.com/map/
FREE eBook! - Grab a copy of our FREE eBook, "The Complete Buyer’s Guide to Surety Bonds": https://suretybondauthority.com/e-book/
====================
SUBSCRIBE for more content!
If you liked this video, please consider subscribing to this YouTube channel to get instant updates on our new content.
YOUTUBE - Subscribe to our YouTube channel:
https://www.youtube.com/channel/UC6qSNIC3vxATcGECccRbFrQ
You could also like our Facebook page to keep tabs on surety bond-related posts and updates.
FACEBOOK - Connect on our Facebook page:
https://www.facebook.com/suretybondauthority
- published: 30 Apr 2018
- views: 117114
2:38
What Is A Surety Bond?
If you’re wondering what a surety bond is, you’ve come to the right place. SuretyBonds.com has developed this guide to give you a quick and easy to understand e...
If you’re wondering what a surety bond is, you’ve come to the right place. SuretyBonds.com has developed this guide to give you a quick and easy to understand explanation of surety bonds. I’m Danielle, and I’ll be explaining what surety bonds are, how they work and who needs them.
A basic definition explains that a surety bond brings three parties together in a legally binding agreement. These three parties are known as the principal, obligee, and surety. First, we have the principal, which is the professional or business that much purchase the bond. When a principal purchases the bond they provide a financial guarantee and prove their ability to follow certain laws and regulations. Second, we have the obligee which is the party that requires the principal to purchase the bond. The obligee is usually a government agency that uses surety bonds to regulate an industry and protect consumers from financial loss. Finally we have the surety, which is the insurance company that guarantees the bond. The surety provides a financial guarantee that the principal will fulfill the bonds obligations. If the bonded principal doesn’t fulfill the bond’s terms, the the obligee can make a claim against the bond to collect reparation for damages. If the claim is found to be valid, the surety will reimburse the obligee.
Now that you know how bonds work, you’re probably wondering, who needs a surety bond and why? Surety bonds are typically required of businesses or professionals who provide services to consumers. Often times, bonds are used to regulate traditionally risky markets, such as the mortgage industry.
Most surety bonds fall in one of two major bonding categories: commercial bonds or contract bonds. Commercial bonds are for business owners, entrepreneurs, and other working professionals. Commercial bonds ensure people will do their job according to licensing laws and other industry regulations. A few examples include auto dealers, notaries and travel agents. Contract bonds are used to guarantee that construction professional will fulfill their contractual obligations when working on a construction project. Contract bonds ensure projects are completed on time and keep project owners from losing their investments. So what do you do if you need a surety bond? If you need more information on a specific bond type visit suretybonds.com. If you’re looking to purchase a surety bond, SuretyBonds.com offers free, no obligation quotes within one business day.
Visit http://www.suretybonds.com/what-is-a-surety-bond.html to learn more about surety bonds
https://wn.com/What_Is_A_Surety_Bond
If you’re wondering what a surety bond is, you’ve come to the right place. SuretyBonds.com has developed this guide to give you a quick and easy to understand explanation of surety bonds. I’m Danielle, and I’ll be explaining what surety bonds are, how they work and who needs them.
A basic definition explains that a surety bond brings three parties together in a legally binding agreement. These three parties are known as the principal, obligee, and surety. First, we have the principal, which is the professional or business that much purchase the bond. When a principal purchases the bond they provide a financial guarantee and prove their ability to follow certain laws and regulations. Second, we have the obligee which is the party that requires the principal to purchase the bond. The obligee is usually a government agency that uses surety bonds to regulate an industry and protect consumers from financial loss. Finally we have the surety, which is the insurance company that guarantees the bond. The surety provides a financial guarantee that the principal will fulfill the bonds obligations. If the bonded principal doesn’t fulfill the bond’s terms, the the obligee can make a claim against the bond to collect reparation for damages. If the claim is found to be valid, the surety will reimburse the obligee.
Now that you know how bonds work, you’re probably wondering, who needs a surety bond and why? Surety bonds are typically required of businesses or professionals who provide services to consumers. Often times, bonds are used to regulate traditionally risky markets, such as the mortgage industry.
Most surety bonds fall in one of two major bonding categories: commercial bonds or contract bonds. Commercial bonds are for business owners, entrepreneurs, and other working professionals. Commercial bonds ensure people will do their job according to licensing laws and other industry regulations. A few examples include auto dealers, notaries and travel agents. Contract bonds are used to guarantee that construction professional will fulfill their contractual obligations when working on a construction project. Contract bonds ensure projects are completed on time and keep project owners from losing their investments. So what do you do if you need a surety bond? If you need more information on a specific bond type visit suretybonds.com. If you’re looking to purchase a surety bond, SuretyBonds.com offers free, no obligation quotes within one business day.
Visit http://www.suretybonds.com/what-is-a-surety-bond.html to learn more about surety bonds
- published: 22 Mar 2012
- views: 91475
3:43
How Much Does A Surety Bond Cost?
This is the Suretybonds.com Education Center. Today we are looking at a question we get a lot and that is this: how much does a surety bond cost? Well how much ...
This is the Suretybonds.com Education Center. Today we are looking at a question we get a lot and that is this: how much does a surety bond cost? Well how much does a surety bond cost? It depends on what type of bond you’re going to get. It really just depends. Why? There are thousands of types of surety bonds out there. There are janitorial bonds, mortgage broker bonds, bonds for construction and building apartment complexes, etc. They go from Washington state to Florida and back up to Maine. It depend on the type of bond you’re going to get. It also depends on a couple of other things about your own personal history. The big one is credit score. In a lot of ways getting a surety bond is a lot like getting a home loan or car loan or anything like that, that is more traditional for you to understand how a credit score comes into play. They’re evaluating the risk that they’re gonna take on by giving you a surety bond. It can also depend on your experience in your industry. If you have 30 years experience as a mortgage broker bond, that’s going to count in your favor when you’re going to get a surety bond and you’re going to find out the premium cost and all that stuff. If you’ve got a good credit score depending on the type of bond you’re going to get and depending on little things like how long you’ve been in business and prior claims on you for previous surety bonds. That will help determine your cost. Now some of you may have Googled this because you want to know how much your bond will cost because you need a bail bond. This is not the place for you. SuretyBonds.com does commercial surety bonds. We do not do bail bonds. I know a lot of times in news reports online or maybe even when you’re getting arrested and you need to get a bond. I would suggest going to Google and looking up your area bail bonds company. For everybody else looking for commercial surety bonds this is the place to be.
There are two different markets for surety bonds: standard and non-standard. This can also come into play when you’re talking about how much a surety bond is going to cost. Standard is the traditional market. These are premiums that the average person pays is you have a credit score over 650 and been in business for a few years. The other list of criteria is something we can go over with you if you contact us at Suretybonds.com. In the standard market, you’re going to pay between 1 to 3% for a premium on the cost of your bond. For example a $50,000 bond paying 1% is going to be a $500 cost to you. Now, if you fail to meet some of the standard market criteria, you’ll end up in the non-standard market. You’ll start paying premiums from 6 to 15 percent. For example, a $50,000 bond at 10% will cost $5,000 in premium up front. It can really change the cost that you’ll have to pay depending if you fall in the standard or non-standard market. These things come into play: credit score, how long you’ve been in business and prior claims against you.
For more information in figuring out the price our your bond visit http://www.suretybonds.com/edu/faqs.
https://wn.com/How_Much_Does_A_Surety_Bond_Cost
This is the Suretybonds.com Education Center. Today we are looking at a question we get a lot and that is this: how much does a surety bond cost? Well how much does a surety bond cost? It depends on what type of bond you’re going to get. It really just depends. Why? There are thousands of types of surety bonds out there. There are janitorial bonds, mortgage broker bonds, bonds for construction and building apartment complexes, etc. They go from Washington state to Florida and back up to Maine. It depend on the type of bond you’re going to get. It also depends on a couple of other things about your own personal history. The big one is credit score. In a lot of ways getting a surety bond is a lot like getting a home loan or car loan or anything like that, that is more traditional for you to understand how a credit score comes into play. They’re evaluating the risk that they’re gonna take on by giving you a surety bond. It can also depend on your experience in your industry. If you have 30 years experience as a mortgage broker bond, that’s going to count in your favor when you’re going to get a surety bond and you’re going to find out the premium cost and all that stuff. If you’ve got a good credit score depending on the type of bond you’re going to get and depending on little things like how long you’ve been in business and prior claims on you for previous surety bonds. That will help determine your cost. Now some of you may have Googled this because you want to know how much your bond will cost because you need a bail bond. This is not the place for you. SuretyBonds.com does commercial surety bonds. We do not do bail bonds. I know a lot of times in news reports online or maybe even when you’re getting arrested and you need to get a bond. I would suggest going to Google and looking up your area bail bonds company. For everybody else looking for commercial surety bonds this is the place to be.
There are two different markets for surety bonds: standard and non-standard. This can also come into play when you’re talking about how much a surety bond is going to cost. Standard is the traditional market. These are premiums that the average person pays is you have a credit score over 650 and been in business for a few years. The other list of criteria is something we can go over with you if you contact us at Suretybonds.com. In the standard market, you’re going to pay between 1 to 3% for a premium on the cost of your bond. For example a $50,000 bond paying 1% is going to be a $500 cost to you. Now, if you fail to meet some of the standard market criteria, you’ll end up in the non-standard market. You’ll start paying premiums from 6 to 15 percent. For example, a $50,000 bond at 10% will cost $5,000 in premium up front. It can really change the cost that you’ll have to pay depending if you fall in the standard or non-standard market. These things come into play: credit score, how long you’ve been in business and prior claims against you.
For more information in figuring out the price our your bond visit http://www.suretybonds.com/edu/faqs.
- published: 25 Mar 2010
- views: 24260
8:36
😀💥Freight Broker Surety Bond...10 BIG Tips💥😀
Freight Broker Surety Bond..10 BIG Tips
In today's video I'm going to share some important information about the Freight Broker Surety Bond and 10 BIG Tips th...
Freight Broker Surety Bond..10 BIG Tips
In today's video I'm going to share some important information about the Freight Broker Surety Bond and 10 BIG Tips that will help you make the best decision as it pertains to acquiring the freight broker surety bond.
Here's what you'll learn.
⭐1. What is a freight broker surety bond?
⭐2. Who must obtain a freight broker surety bond?
⭐3. What type of bond is required for freight brokers?
⭐4. What is a BMC -84?
⭐5. What is a BMC-85?
⭐6. What factors determine freight broker surety bond price?
⭐7. How much should you pay for a freight broker surety bond?
⭐8. Should you renegotiate your freight broker surety bond after the first year?
⭐9. What is an indemnity agreement?
⭐10.Which freight broker surety bond provider company should you choose?
🔥 Register for my 5 video series about "How Freight Brokers Move Loads And Make Money" here...www.brandonthefreightbroker.com 🔥
Comment "YES" in the comment section below and send me an email to
[email protected] if you'd like my freight broker surety bond provider's contact information...
Freight Broker Surety Bond...10 BIG Tips
https://wn.com/😀💥Freight_Broker_Surety_Bond...10_Big_Tips💥😀
Freight Broker Surety Bond..10 BIG Tips
In today's video I'm going to share some important information about the Freight Broker Surety Bond and 10 BIG Tips that will help you make the best decision as it pertains to acquiring the freight broker surety bond.
Here's what you'll learn.
⭐1. What is a freight broker surety bond?
⭐2. Who must obtain a freight broker surety bond?
⭐3. What type of bond is required for freight brokers?
⭐4. What is a BMC -84?
⭐5. What is a BMC-85?
⭐6. What factors determine freight broker surety bond price?
⭐7. How much should you pay for a freight broker surety bond?
⭐8. Should you renegotiate your freight broker surety bond after the first year?
⭐9. What is an indemnity agreement?
⭐10.Which freight broker surety bond provider company should you choose?
🔥 Register for my 5 video series about "How Freight Brokers Move Loads And Make Money" here...www.brandonthefreightbroker.com 🔥
Comment "YES" in the comment section below and send me an email to
[email protected] if you'd like my freight broker surety bond provider's contact information...
Freight Broker Surety Bond...10 BIG Tips
- published: 24 Feb 2020
- views: 5566
3:25
So...you were told you need a surety bond. [Here's what you need to do.]
Surety bonds are a very different type of insurance. The bond insures the party asking for the bond rather than you, the person buying the bond.
Think of a su...
Surety bonds are a very different type of insurance. The bond insures the party asking for the bond rather than you, the person buying the bond.
Think of a surety bond as paying an insurance company to be your cosigner. The bond is your guarantee you'll do something, such as pay a bill, obey set rules or complete a job.
The surety bond requires you pay the insurance company back if a valid claim is made against your guarantee. The insurance company is co-signing for you, they're not insuring you.
You're being insured against your potential failure with the group that told you to get the bond. Any losses or damages incurred, the insurance company passes those right back on to you.
Visit SuretySolutions.com to get free quotes for your surety bond!
Surety bonds are underwritten a bit more like a loan or credit card.
Sure, some types of bonds are simple to get by answering just a few questions. Other types of bonds require more questions and supporting information to qualify. But just as if you were applying for a credit line of $5,000 or $50,000, the bank would ask more questions to determine if you're a qualified applicant.
These questions will also determine the annual cost (rate) to you. The stronger your credit, financial information or experience performing the obligation, the lower the cost as the surety company isn't taking as much risk guaranteeing your performance or responsibilities.
So, what can you expect from the process of getting a surety bond?
To summarize, surety bonds are a type of guarantee, where the insurance company is guaranteeing your actions.
The scope of the guarantee will really determine your application process and cost.
Some examples:
A notary is guaranteeing someone's identity when they sign a document.
A person applying for a lost title bond is guaranteeing their vehicle belongs to them.
A contractor is guaranteeing they are going to obey all the laws and regulations in their state. They will pay all of their suppliers in a timely manner, provide satisfactory craftsmanship and finish all of the work they've been paid to do within a certain timeframe.
Regardless of the surety bond type or size you need, we've issued them all! Get started with your online application by visiting suretysolutions.com.
You may be downloading your bond in just 5 minutes or less.
https://wn.com/So...You_Were_Told_You_Need_A_Surety_Bond._Here's_What_You_Need_To_Do.
Surety bonds are a very different type of insurance. The bond insures the party asking for the bond rather than you, the person buying the bond.
Think of a surety bond as paying an insurance company to be your cosigner. The bond is your guarantee you'll do something, such as pay a bill, obey set rules or complete a job.
The surety bond requires you pay the insurance company back if a valid claim is made against your guarantee. The insurance company is co-signing for you, they're not insuring you.
You're being insured against your potential failure with the group that told you to get the bond. Any losses or damages incurred, the insurance company passes those right back on to you.
Visit SuretySolutions.com to get free quotes for your surety bond!
Surety bonds are underwritten a bit more like a loan or credit card.
Sure, some types of bonds are simple to get by answering just a few questions. Other types of bonds require more questions and supporting information to qualify. But just as if you were applying for a credit line of $5,000 or $50,000, the bank would ask more questions to determine if you're a qualified applicant.
These questions will also determine the annual cost (rate) to you. The stronger your credit, financial information or experience performing the obligation, the lower the cost as the surety company isn't taking as much risk guaranteeing your performance or responsibilities.
So, what can you expect from the process of getting a surety bond?
To summarize, surety bonds are a type of guarantee, where the insurance company is guaranteeing your actions.
The scope of the guarantee will really determine your application process and cost.
Some examples:
A notary is guaranteeing someone's identity when they sign a document.
A person applying for a lost title bond is guaranteeing their vehicle belongs to them.
A contractor is guaranteeing they are going to obey all the laws and regulations in their state. They will pay all of their suppliers in a timely manner, provide satisfactory craftsmanship and finish all of the work they've been paid to do within a certain timeframe.
Regardless of the surety bond type or size you need, we've issued them all! Get started with your online application by visiting suretysolutions.com.
You may be downloading your bond in just 5 minutes or less.
- published: 12 Dec 2019
- views: 15697
14:14
Surety Bonds Lesson - The 6 Types of Surety Bonds (2020)
Surety Bonds Lesson from your favorite tito is back this weekend! Now that we've tackled what a surety bond is, it's time to dive a little bit deeper into what ...
Surety Bonds Lesson from your favorite tito is back this weekend! Now that we've tackled what a surety bond is, it's time to dive a little bit deeper into what kinds there are in the market. So today, we're going to tackle the 6 types of surety bonds!
From court rooms to construction sites, many business processes and applications may need bonds to help establish trust and protect both parties from abuse. These six types of bonds cater to different business and legal needs. Let tito walk you through these types before we take a deeper look ito each of them!
__________________________________________
Property Insurance Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jh8NyO0iUm9CPY1JCA1FxXo
Motorcar Insurance Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jh3k29hR_gUmvGHfd-RqEGF
Personal Accident Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jiryxOIAVK4xLb8fy_iiYBr
Surety Bonds Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jjhKTrM0J-SCAvn1PYFj9Sg
__________________________________________________
_______________________________________________
Looking to buy insurance?
Looking to sell insurance?
Let's talk! Usap tayo. Sagot ka ni tito.
I'm also on facebook! You can visit/message me at:
https://bit.ly/titotalksfb
You can also email me at:
[email protected]
_______________________________________________
Leave a like and subscribe for more non-life insurance related content! Let me know what kinds of topics/questions you want answered. Enjoy the rest of your day!
https://wn.com/Surety_Bonds_Lesson_The_6_Types_Of_Surety_Bonds_(2020)
Surety Bonds Lesson from your favorite tito is back this weekend! Now that we've tackled what a surety bond is, it's time to dive a little bit deeper into what kinds there are in the market. So today, we're going to tackle the 6 types of surety bonds!
From court rooms to construction sites, many business processes and applications may need bonds to help establish trust and protect both parties from abuse. These six types of bonds cater to different business and legal needs. Let tito walk you through these types before we take a deeper look ito each of them!
__________________________________________
Property Insurance Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jh8NyO0iUm9CPY1JCA1FxXo
Motorcar Insurance Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jh3k29hR_gUmvGHfd-RqEGF
Personal Accident Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jiryxOIAVK4xLb8fy_iiYBr
Surety Bonds Playlist:
https://www.youtube.com/playlist?list=PLHcmqW9oK-jjhKTrM0J-SCAvn1PYFj9Sg
__________________________________________________
_______________________________________________
Looking to buy insurance?
Looking to sell insurance?
Let's talk! Usap tayo. Sagot ka ni tito.
I'm also on facebook! You can visit/message me at:
https://bit.ly/titotalksfb
You can also email me at:
[email protected]
_______________________________________________
Leave a like and subscribe for more non-life insurance related content! Let me know what kinds of topics/questions you want answered. Enjoy the rest of your day!
- published: 05 Sep 2020
- views: 5854
8:22
What Are The Types of Surety Bonds? 🏦🧐
Surety Bonds Explained | Surety Bonds vs Insurance
This video reviews the basics of Surety Bonds that include parties to the contract and the different types o...
Surety Bonds Explained | Surety Bonds vs Insurance
This video reviews the basics of Surety Bonds that include parties to the contract and the different types of contract bonds, fiduciary and court bonds, license and permit bonds.
0:00 Surety Bonds Explained
0:22 Surety Bonds vs Insurance
0:53 Parties to Surety Bond
2:08 Contract Bonds
3:40 Fiduciary and Court Bonds
5:28 License Bonds and Permit Bonds
6:46 Other Bonds
#SuretyBonds #Insurance #Riskmanagement #InsuranceTraining
https://wn.com/What_Are_The_Types_Of_Surety_Bonds_🏦🧐
Surety Bonds Explained | Surety Bonds vs Insurance
This video reviews the basics of Surety Bonds that include parties to the contract and the different types of contract bonds, fiduciary and court bonds, license and permit bonds.
0:00 Surety Bonds Explained
0:22 Surety Bonds vs Insurance
0:53 Parties to Surety Bond
2:08 Contract Bonds
3:40 Fiduciary and Court Bonds
5:28 License Bonds and Permit Bonds
6:46 Other Bonds
#SuretyBonds #Insurance #Riskmanagement #InsuranceTraining
- published: 14 Jan 2018
- views: 8546
1:58
What is a Surety Bond?
Source: https://www.jwsuretybonds.com/edu/what-are-surety-bonds?utm_source=youtube.com&utm_medium=Social&utm_campaign=JW+Page+Posts&utm_content=What+is+a+Surety...
Source: https://www.jwsuretybonds.com/edu/what-are-surety-bonds?utm_source=youtube.com&utm_medium=Social&utm_campaign=JW+Page+Posts&utm_content=What+is+a+Surety+Bond+Video+Description
What exactly is a surety bond?
It can be confusing at first to figure out how a bond really works -- and who needs to get bonded.
Let’s start with the basics. A surety bond is a legally binding contractual agreement between three parties.
The first party is you, the principal, who needs to obtain a bond.
The obligee is the entity requiring you to get bonded. In most cases the obligee is a government agency.
The third party is the surety company that backs the bond.
The surety bond guarantees that you, as the bonded principal, will fulfill the terms outlined in your bond. You can think of the bond as a kind of insurance for the obligee. It’s also a form of credit to you, as the principal, provided by the surety that backs the bond.
For example, if you’re an auto dealer, your state’s Department of Motor Vehicles will require a bond for your auto dealer license. The auto dealer bond guarantees you’ll act in a lawful manner when selling vehicles to buyers.
If you don’t meet the obligations set in the bond --- like following the law in your car sales activities -- a claim can be filed against your bond. That’s how the claimant can get fair reimbursement for any financial loss.
Unlike insurance claims, where the insurance company covers claim costs, you are financially responsible for any bond claims. (https://bit.ly/3JgZLv1)
So who needs to get a surety bond?
Auto dealers, freight brokers, contractors, mortgage brokers, and many other professionals need a surety bond to get licensed.
Then there are contractors who need contract bonds to bid on and participate in public construction projects.
A third common type of bonds are court bonds, which are required by courts in certain cases.
If you need to get bonded, don't worry. The bonding process doesn't have to be complicated, especially with a bonding partner like JW Surety Bonds.
Simply apply online for an instant FREE bond quote today: https://bit.ly/34MNUWy
Additional resources:
- FREE e-book: "The Consumer's Guide to Surety Bonds": https://bit.ly/3icjAYi
- Surety Bonds 101: https://bit.ly/3JeWPix
- Types of Surety Bonds - Find Yours: https://bit.ly/37z4Lx1
- Frequently Asked Questions: https://bit.ly/3w9K8Sd
- How Much Does a Surety Bond Cost?: https://bit.ly/37mZrww
- Get a real-time surety bond quote in minutes: https://bit.ly/34MNUWy
- How JW Surety Bonds is Different: https://bit.ly/3u14DxW
- How to Choose the Right Bond Agency: https://bit.ly/3q3JTEj
About JW Surety Bonds: We are a family owned and operated agency established in 2003. We started with just two people, and grew to become the largest volume bond producer in the nation with 50+ employees. Since day one, our team focus has been on providing real-time online quotes, an easy process, and the best in claims defense. Learn more about our company: https://bit.ly/3q9s3Qt
https://wn.com/What_Is_A_Surety_Bond
Source: https://www.jwsuretybonds.com/edu/what-are-surety-bonds?utm_source=youtube.com&utm_medium=Social&utm_campaign=JW+Page+Posts&utm_content=What+is+a+Surety+Bond+Video+Description
What exactly is a surety bond?
It can be confusing at first to figure out how a bond really works -- and who needs to get bonded.
Let’s start with the basics. A surety bond is a legally binding contractual agreement between three parties.
The first party is you, the principal, who needs to obtain a bond.
The obligee is the entity requiring you to get bonded. In most cases the obligee is a government agency.
The third party is the surety company that backs the bond.
The surety bond guarantees that you, as the bonded principal, will fulfill the terms outlined in your bond. You can think of the bond as a kind of insurance for the obligee. It’s also a form of credit to you, as the principal, provided by the surety that backs the bond.
For example, if you’re an auto dealer, your state’s Department of Motor Vehicles will require a bond for your auto dealer license. The auto dealer bond guarantees you’ll act in a lawful manner when selling vehicles to buyers.
If you don’t meet the obligations set in the bond --- like following the law in your car sales activities -- a claim can be filed against your bond. That’s how the claimant can get fair reimbursement for any financial loss.
Unlike insurance claims, where the insurance company covers claim costs, you are financially responsible for any bond claims. (https://bit.ly/3JgZLv1)
So who needs to get a surety bond?
Auto dealers, freight brokers, contractors, mortgage brokers, and many other professionals need a surety bond to get licensed.
Then there are contractors who need contract bonds to bid on and participate in public construction projects.
A third common type of bonds are court bonds, which are required by courts in certain cases.
If you need to get bonded, don't worry. The bonding process doesn't have to be complicated, especially with a bonding partner like JW Surety Bonds.
Simply apply online for an instant FREE bond quote today: https://bit.ly/34MNUWy
Additional resources:
- FREE e-book: "The Consumer's Guide to Surety Bonds": https://bit.ly/3icjAYi
- Surety Bonds 101: https://bit.ly/3JeWPix
- Types of Surety Bonds - Find Yours: https://bit.ly/37z4Lx1
- Frequently Asked Questions: https://bit.ly/3w9K8Sd
- How Much Does a Surety Bond Cost?: https://bit.ly/37mZrww
- Get a real-time surety bond quote in minutes: https://bit.ly/34MNUWy
- How JW Surety Bonds is Different: https://bit.ly/3u14DxW
- How to Choose the Right Bond Agency: https://bit.ly/3q3JTEj
About JW Surety Bonds: We are a family owned and operated agency established in 2003. We started with just two people, and grew to become the largest volume bond producer in the nation with 50+ employees. Since day one, our team focus has been on providing real-time online quotes, an easy process, and the best in claims defense. Learn more about our company: https://bit.ly/3q9s3Qt
- published: 14 Apr 2021
- views: 1347