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What you Need to Know About Texas Surety Bonds
Since 2003, Surety1.com has been providing Texas surety bonds of all shapes and sizes that may be required for professional or contract work in the state. We can help you apply and get the best price for your surety bond. We can even work with lower credit scores in most cases. Choose your bond from the list above for a full description and to start an application. Surety1 has been bonding in Texas since 2003. We offer easy to use and secure online applications, fast service and surety bond professionals ready to help. We are rated A+ by the Better Business Bureau.
See our “What is a Surety Bond” Video.
See our “How does the Surety Bond Process Work” Video
Why Choose Surety1 for Your Bonding Needs?
- Experience: Surety1 has been in business since 2003, specializing in surety bonds nationwide, with specific experience in Texas.
- Variety: We offer a wide range of Texas surety bonds for various professions and industries.
- Competitive Rates: We offer competitive rates and work with over a dozen surety bond companies to find the best price for you.
- Easy Online Application: Our user-friendly and secure online application process make for for quick and convenient bonding.
- Fast Service: We offer fast turnaround times for bond issuance.
- Support: Surety1 has a team of surety bond professionals available to answer your questions and guide you through the process.
- Positive Reviews: Surety1 has an A+ rating with the Better Business Bureau and positive reviews online.
- Surety Bond Only Agency: Surety1 only provides surety bonds. Benefits of Working With a Surety Bond Only Agency
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. All we do are surety bonds.
Types of Texas Surety Bonds
There are many different types of surety bonds, but some of the most common in Texas include:
- Contract bonds: These bonds guarantee that a contractor will complete a project on time and within budget.
- License and permit bonds: These bonds are required by many government agencies in order to obtain a license or permit to operate a business.
- Fidelity bonds: These bonds protect businesses from financial losses caused by employee dishonesty.
- Probate Court bonds: A fiduciary bond guarantees that a court-appointed fiduciary will perform all duties required of their appointed capacity.
- Civil Court Bonds: Courts in every jurisdiction throughout the United States have been requiring bonds to guarantee judgments rendered by the court
- Business Service Bond: For those that want to “be bonded” and there is no statutory surety bond requirement
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.
What is a Surety Bond?
A surety bond is a three-party financial guarantee that ensures the fulfillment of a specific obligation. It involves:
- Principal: The party who needs to fulfill the obligation. This could be a contractor, business owner, individual, etc.
- Surety: The party who guarantees the obligation will be met. This is usually a specialized insurance company.
- Obligee: The party who benefits from the obligation being fulfilled. This could be a government agency, private entity, or individual.
How it works:
- The obligee requires the principal to obtain a surety bond as a condition of doing business, like a construction project or holding a license.
- The principal applies to a surety bond broker, The broker obtains quotes and terms for the bond.
- If approved, the surety bond broker issues the bond and charges the principal a premium.
- The principal fulfills their obligation as agreed.
- If the principal fails to meet their obligation, the obligee makes a claim to the surety.
- The surety investigates the claim and, if valid, pays the obligee up to the bond amount.
- If the surety pays a claim, it will pursues the principal to recover the paid amount.
See our “What is a Surety Bond” Video.
See Our “How does the Surety Bond Process Work” Video
For more questions, Contact Surety1.com.
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.