Online Resource for Surety Bonds

Your Resource for Every Surety Bond Need

A significant number of professions and circumstances require a surety bond to conduct business or complete a project. Our insurance agency and surety bond partner, BondExchange, is here to provide you with the tools and support to get the bond you need for your unique circumstance. From a bond for a notary public to bonds for a multi-phase construction project, we are ready to help you navigate the process and secure the bond you need.

Some benefits of working with our agency and surety bond partner include:

• Providing bonds for all 50 states, Washington D.C. and U.S. Government
  

• Quote and compare offers from up to 30 different insurance carriers
  
  
• 100% online applications and e-signatures for all bonds: Online application ensures that the system prompts you for everything you need to include for an error-free submission
  
  
• Variable payment options from monthly to multi-year for a number of different bond types making cash flow management easier for your business
  
  
• Bond underwriters provide customer support: Direct access to a team of underwriters with expertise in surety bonds is available to answer your questions so you complete your application correctly the first time
  
  
• Small Business Administration (SBA) Surety Bond Guarantee Program: Automated bond contracting app which includes the SBA’s application criteria to automatically detect if the applicant qualifies for the SBG program and collect all information needed to instantly quote and issue surety bonds with limits of up to $1 million. 

Helpful Insights into the Bond Purchase Process

While the application process is entirely completed online, the types of information you will need to complete the application will vary depending on the type of bond. There are three basic questions you need to answer before starting the process.

1. Who is Asking you to Purchase a Surety Bond (known as the "obligee")? Is it a government agency, a business (i.e. fidelity bond or utility bond), or court-related bond.
   
   
2. What is the Required Bond Amount? This is important since the requirements to qualify are more stringent as the bond amount increases. It also determines whether there will be a credit check as part of the approval process. In many circumstances, a bond amount under $50,000 doesn't require a credit check.
   
   
3. What is the Purpose of the Surety Bond? The following categories of surety bonds will offer an overview of the purpose as to why a bond is required. Here is an general listing of the various bond categories.

• • Business License or Permit Bonds – Required by a government agency for a business to obtain or renew a license or permit so they may operate within a specific municipality.
    
    
  • Bid, Performance or Payment Bonds – For contractors, usually when bidding on a government project and to ensure that the job is completed.
    
    
  • Fidelity Bonds – Also known as employee theft, dishonesty, or janitorial bonds, fidelity bonds protect business owners if their employees steal from customers (or the business).
    
    
  • ERISA Bonds – Used to protect retirement plan participants, ERISA bonds are needed for all qualified retirement plans (i.e. 401ks, defined benefit plans, pension plans, etc.)
    
    
  • Probate or Court Bonds – Required by a court order for probate matters or lawsuits in civil courts.
    
    
  • Notary Bonds – For individuals who are applying for a notary public license.
    
    
  • Financial Guarantee Bonds – Guarantees that a business will make payments for bills or other obligations. Two of the most common are
    (1) utility deposit bonds for utility companies to guarantee on-time payment of utility bills, and
    (2) union wage and welfare bonds to guarantee that contractors will pay union wages and benefits on union jobs.

After submitting the bond application, you will be asked to:

1. Choose your payment option and enter your payment information.
2. Print and download a copy of the bond when it has been approved.
3. Receive by mail a paper copy of the bond with the raised validation stamp in case you need to submit an original copy with the application requiring a bond.

Only Surety Bond Company with a Pay-As-You-Go Subscription Option

For all bonds issed from BondExchange with a cancellation provision (which is most bonds), you will be given a number of payment options at the end of the application process. For bonds with higher premiums, such flexibility offers a huge advantage for managing cash flow throughout the year. Furthermore, there will be no potential for forfeiture of the remaining upfront, lump-sum payment if you choose to cancel the bond.

The options will be presented as follows:

We are ready to support your bonding needs. Click on the link below or the image in the right-hand column above to begin your bond application process!

Click here to access our site and follow the prompts to purchase your bond through BondExchange.

Thank you for choosing CGLaraway Insurance Strategies LLC and BondExchange!