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All about Arizona Surety Bonds
Surety1.com has been providing Arizona surety bonds since 2003 We provide surety bonds that are required to obtain professional licenses or contract work in the state.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003 and is and is rated A+ by the BBB.
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What is a surety bond?
A surety bond is a three-party agreement between the principal (the
person or business that needs the bond), the obligee (the person or entity that requires the bond), and the surety (the company that issues the bond). The bond guarantees that the principal will fulfill their obligations to the obligee. If the principal fails to do so, the surety will pay the obligee up to the amount of the bond.
See our “What is a Surety Bond” Video.
See Our “How does the Surety Bond Process Work” Video
What types of surety bonds are required in Arizona?
There are many different types of surety bonds required in New York, including:
- Construction bonds: Bid bonds, performance bonds, and payment bonds
- License and permit bonds
- Court bonds
- Probate / Fiduciary bonds
- Public official bonds
- Miscellaneous bonds
Why are surety bonds required?
Surety bonds are required to protect the public and businesses from financial losses caused by fraud, incompetence, or other wrongdoing. For example, a construction bond protects the project owner from financial losses if the contractor fails to complete the project or goes out of business. A license and permit bond protects the public from financial losses if a licensed professional commits fraud or malpractice.
How much does a surety bond cost?
The cost of a surety bond in Arizona varies depending on the type of bond, the amount of the bond, and your financial strength and creditworthiness. Generally speaking, the higher the amount of the bond and the riskier the business, the higher the premium will be. As a rule of thumb, most surety bonds will cost between 1% and 3% of the bond amount, with a minimum cost of $150.00.
What if I just want to “be bonded”?
If your license or profession has no surety bond requirement attached to it but one still wants to “be bonded”, Surety1.com offers a Business Service Bond at a very affordable price.
How to obtain a Arizona Surety Bond
Take advantage of our easy to use, easy to navigate and secure, online applications and get bonded today! The above list is a comprehensive list and description of most of the surety bonds required in the State of Arizona.
If you encounter any problems along the way, contact us via email @ info@surety1.com or phone (877)654-2327. Our friendly professional surety bond agents are ready to help.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.