Also know as Compliance Bonds, most of these are required to comply with various building codes, the information required in the underwriting process is minimal. You will be asked to provide basic contact information, date business was established, years of experience the principle has in the trade, bond amount, the term/expiration date of it, and the entity (obligee) requiring. Depending on the type, we may need additional information. We will request personal credit information from credit reporting agencies.
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Common business classes that require these bonds include, but are not limited to the following:
- General Contractors
- Home Improvement
- Right of Way (Street)
- Sewer/Septic Provider/Hauler/Treatment
- Street Opening
- Snow Plow