Applying for a Surety Bond is simple especially with the assistance of Ezsuretybonds.com/
1. Confirm your business’ surety bond requirements. Once you understand the exact bond you need and the bond amount visit Ezsuretybonds.com/ to start our simple online purchase process. If you are unsure of this information, our agency will assist you in finding the bond type and amount your industry requires just call 833-471-3627.
2. Once the correct bond type has been identified, gather the necessary information to complete the application form online. Common questions on surety bond application forms may include legal business name, FEIN, state of incorporation, address, etc. For personal indemnitors it may include legal name, social security number, residential address, spouse name, spouse SSN, etc.
3. Once you have completed your application form, it is time to submit FREE OF CHARGE. Your surety bond experts at Ezsuretybonds.com/ will work hard to get you the most competitive rates. Upon approval, a quote will be expeditiously issued.
4. Now it’s time to review, purchase and receive your bond. Ezsuretybonds.com/ allows customers to pay instantly online. These transactions are 100% secure and have no time delay. In many cases, you can print your bond at home. A hard copy will be mailed out to you as well.
How long will it take for my bond to be issued?
The length of time a bond takes to be issued varies. This timeline can depend on many factors such as the type of bond applied for, additional documentation needed, and promptness of premium payment.
Fortunately, EZ Surety Bonds has nearly 3,000 bonds that gives customers the ability to be approved instantly upon the completion of our online application. After approval the bonds are typically issued one to two days after receipt of payment and a signed copy of the agreement.
The Evaluation of a Surety Bond Application
The process of evaluating an application for a surety bond can be complicated and require specific expertise. The personnel normally involved in this process are producers, and underwriters:
Producers are normally the insurance agent. Most agents have power of attorney from the surety companies they represent. This power of attorney can be limited or unlimited in dollar amount. The power of attorney permits the agent the ability to sign the surety bond on behalf of the surety company giving the agent legal authorization to bind the surety to the bond obligations.
Underwriters are responsible for reviewing the application and supporting documents to make a valid underwriting decision. An underwriter takes many things into consideration when reviewing an application for a bond. These considerations may include: The range of obligations indicated in the contract covered by the bond; The principal’s ability to perform these obligations; and The nature of the principal’s performance. The underwriter’s decision also includes deciding the premium for the bond which is associated with a state filed rate. If there are additional conditions an applicant must meet before a surety company will write the bond, the Underwriter will communicate these conditions to the agent.
To get started with your Surety Bond application visit https://Ezsuretybonds.com/