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Here’s a breakdown of key information about Virginia Surety Bonds:
What are they?
Virginia Surety Bonds are financial guarantees issued by a surety company (similar to an insurance company) on behalf of a principal (business or individual). They serve to protect a third-party (obligee) from financial losses if the principal fails to fulfill their obligations as specified in the bond agreement.
See our “What is a Surety Bond” Video.
Who Needs Them?
Many businesses and individuals in Virginia require surety bonds for various reasons. Some common scenarios include:
- Licenses and Permits: Certain licenses and permits, such as for contractors, motor vehicle dealers, or auctioneers, mandate a surety bond.
- Court-Ordered Bonds: Judges may require bonds in legal proceedings, like probate bonds or bail bonds.
- Government Contracts: Bid, performance, and payment bonds are often required for government contracts.
Types of Virginia Surety Bonds:
There are many different types of surety bonds in Virginia, each with specific purposes and regulations. Some common types include:
- Bid Bond: Guarantees a bidder will enter a contract if awarded.
- Performance Bond: Ensures a contractor completes the project according to specifications.
- Payment Bond: Guarantees subcontractors and suppliers are paid for their work.
License and Permit Bonds:
- Motor Vehicle Dealer Bond: Protects consumers from fraudulent practices.
- Contractor License Bond: Ensures compliance with regulations and protects consumers.
- Notary Public Bond: Guarantees the notary performs duties honestly and faithfully.
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 Get a Virginia 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 surety bonds required in the State of Nevada.
If you encounter any problems along the way, contact us via email @ email@example.com or phone (877)654-2327. Our friendly professional surety bond agents are ready to help. See our “How does the Surety Bond Process Work” Video
Why Choose Surety1?
- Experience: Surety1 has been in business since 2003, specializing in surety bonds nationwide, with specific experience in Florida.
- Variety: We offer a wide range of Florida 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.
- Licensed Nationwide: Licensed in all 50 states to serve all your surety bond needs.
- 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.