Arkansas Archives - Page 3 of 3

Arkansas Notary Bond without EO: Essential for Notary Integrity

Posted on April 13, 2024 by Rachelle

Get An Instant Quote on Arkansas – Notary Bond $7,500 without EO

Becoming a notary public in Arkansas involves several key responsibilities, including securing a Notary Bond valued at $7,500. This bond is crucial as it ensures that notaries adhere to state laws and conduct their duties ethically and accurately. The “without EO” specification means that this bond does not include Errors and Omissions (EO) insurance, which typically provides additional coverage for notaries against the costs of defending charges of negligence and any damages awarded in such a case.

For notaries in Arkansas, this bond serves as a form of financial assurance that compensates the state or consumers for any damages resulting from a notary’s misconduct or failure to faithfully perform their duties. While not providing liability coverage like EO insurance, the bond still plays a critical role in protecting the public and upholding the trust placed in notaries.

This guide will discuss the importance of the Arkansas Notary Bond $7,500 without EO, detailing who needs it, what it covers, how to obtain it, and why securing it through Alpha Surety Bonds is beneficial for maintaining professional standards as a notary public.

Who Needs an Arkansas Notary Bond $7,500 without EO?

This bond is a mandatory requirement for:

New Notaries: Individuals applying for their notary commission in Arkansas for the first time.
Renewing Notaries: Notaries whose commissions are up for renewal and need to resecure their bond to continue practicing.
Notaries without Insurance: Notaries who choose not to carry Errors and Omissions insurance as part of their notarial practice.

Features of the Arkansas Notary Bond $7,500 without EO

The Arkansas Notary Bond $7,500 without EO offers several important features:

Public Protection: Provides a recourse for the public to claim financial compensation in case of a breach of duty by the notary.
Legal Compliance: Ensures that notaries comply with the relevant Arkansas statutes pertaining to notarial acts.
Trust Assurance: Enhances the trustworthiness of the notary by showing that they have backed their obligations with a bond.

Procedure on How to Get the Arkansas Notary Bond $7,500 without EO

To obtain an Arkansas Notary Bond $7,500 without EO, follow these steps:

Verify the Requirement: Confirm with the Arkansas Secretary of State’s office that this is the correct bond amount and type for your notary commission.
Apply for the Bond: Submit an application to Alpha Surety Bonds, providing personal identification and professional information as required.
Complete Documentation: Provide any additional documentation that may be required, such as proof of identity or previous notarial commissions.
Receive and File Your Bond: Once approved, receive your bond certificate and file it with the Secretary of State along with your other notary commission materials.

Why Choose Alpha Surety Bonds

Alpha Surety Bonds is an excellent choice for securing your Notary Bond due to several key advantages:

Specialized Expertise: We have extensive experience with notary bonds and understand the specific requirements for Arkansas notaries.
Streamlined Process: Our application process is fast and efficient, ensuring you receive your bond quickly to meet state deadlines.
Competitive Rates: We offer competitive rates on notary bonds, helping you fulfill your statutory requirements without undue financial burden.
Customer Support: Our knowledgeable staff provides ongoing support, answering any questions you may have throughout the bonding process.

Start Your Notarial Practice with Confidence

With the Arkansas Notary Bond $7,500 without EO, you are fully prepared to carry out your duties as a notary public with integrity and in compliance with state laws. Contact Alpha Surety Bonds today to get started on securing your bond, ensuring a seamless and successful commissioning process.

Arkansas Notary Bond with EO: Comprehensive Protection for Notaries

Posted on April 13, 2024 by Rachelle

Get An Instant Quote on Arkansas – Notary Bond $7,500 with $10,000 EO

As a notary public in Arkansas, securing a Notary Bond is a legal requirement to safeguard the interests of the public. This $7,500 bond, supplemented by $10,000 in Errors and Omissions (EO) insurance, provides an additional layer of financial protection. This combination ensures that notaries can carry out their duties with a higher level of security, protecting both themselves and their clients against potential legal liabilities resulting from unintentional errors or omissions during the notarization process.

The inclusion of EO insurance is particularly beneficial, as it covers defense costs and settlements or judgments that may arise from claims of negligence or failure to perform notarial duties correctly. This comprehensive financial safeguard helps maintain professional integrity and enhances trust in the services provided by notaries.

This guide will outline who needs this bond and EO coverage, its key features, the process for obtaining it, and why Alpha Surety Bonds is the preferred provider for Arkansas notaries seeking robust protection.

Who Needs an Arkansas Notary Bond $7,500 with $10,000 EO?

This bond and insurance package is essential for:

New Notaries: Newly commissioned notaries who are looking to fulfill state requirements while providing an extra level of protection against potential claims.
Experienced Notaries: Established notaries interested in renewing their bond and increasing their insurance coverage to better protect against the risks associated with their work.
Notaries Seeking Comprehensive Coverage: Notaries who want to ensure peace of mind for themselves and their clients by minimizing the financial risks of errors in their professional activities.

Features of the Arkansas Notary Bond $7,500 with $10,000 EO

The Notary Bond and EO insurance package offers several benefits:

Financial Security: Protects against claims of improper conduct or negligence, covering legal fees and settlements up to the policy limit.
Regulatory Compliance: Meets the state’s bonding requirement for notaries, ensuring compliance with Arkansas laws.
Enhanced Trust: Builds trust with clients by demonstrating a commitment to professionalism and financial responsibility.

Procedure on How to Get the Arkansas Notary Bond $7,500 with $10,000 EO

Obtaining your Notary Bond with EO coverage involves a straightforward process:

Assess Your Needs: Determine that the $7,500 bond and $10,000 EO coverage meet your professional requirements and state regulations.
Application: Apply for the bond and EO insurance through Alpha Surety Bonds, providing necessary personal and professional details.
Documentation Submission: Submit any required documentation, which may include proof of prior notarial acts or evidence of training.
Receive Your Bond and EO Coverage: Once approved, receive documentation confirming your bond and EO insurance, which you will file with the Arkansas Secretary of State.

Why Choose Alpha Surety Bonds

Alpha Surety Bonds offers distinct advantages for notaries seeking bonding and insurance:

Specialized Expertise: We have deep experience in providing bonds and EO coverage tailored to notaries’ specific needs.
Efficient and Responsive Service: Our process is streamlined to ensure quick and reliable issuance of your bond and EO policy.
Competitive Rates: We offer competitive pricing on bonds and EO insurance, making it affordable to achieve comprehensive protection.
Dedicated Support: Our team is committed to offering ongoing support, helping you navigate the complexities of notarial responsibilities and coverage.

Enhance Your Professional Notary Services

With the Arkansas Notary Bond $7,500 and $10,000 EO, you equip yourself with the necessary tools to perform your duties confidently and securely. Contact Alpha Surety Bonds today to apply and take a significant step towards safeguarding your notarial practice.

Arkansas Money Transmission Bond: Ensuring Integrity in Financial Transactions

Posted on April 13, 2024 by Rachelle

Get An Instant Quote on Arkansas – Money Transmission Bond

In Arkansas, companies engaged in the business of money transmission must secure a Money Transmission Bond as part of their licensing requirements. This bond is critical for protecting consumers and ensuring that money transmitters operate in compliance with state regulations. It serves as a financial guarantee that the money transmitted by these businesses will be handled properly, ensuring the financial security of customers and maintaining trust in the financial system.

This bond is especially important in an era where financial transactions are increasingly digitized, requiring robust safeguards against fraud and mismanagement. By securing a Money Transmission Bond, businesses not only meet legal requirements but also demonstrate their reliability and commitment to protecting consumer funds.

This guide will explore who needs this bond, its key features, the process for obtaining it, and why choosing Alpha Surety Bonds as your partner in this journey is beneficial for your business.

Who Needs an Arkansas Money Transmission Bond?

This bond is essential for:

Money Transmission Businesses: Entities involved in transferring or handling money, including currency exchanges, remittance services, and payment gateway providers.
New Applicants: New businesses applying for a money transmitter license in Arkansas for the first time.
Renewing Businesses: Existing licensed money transmitters seeking to renew their licenses as required by the Arkansas Securities Department.

Features of the Arkansas Money Transmission Bond

The Arkansas Money Transmission Bond offers several important features:

Consumer Protection: Provides a route for compensation to consumers if the money transmitter fails to comply with licensing laws and regulations.
Regulatory Compliance: Assures the Arkansas Securities Department that the business will adhere to all applicable laws and regulations concerning money transmission.
Enhanced Credibility: Boosts customer confidence in the financial practices of the business, enhancing its reputation in the market.

Procedure on How to Get the Arkansas Money Transmission Bond

To obtain an Arkansas Money Transmission Bond, follow these steps:

Assess Your Bond Requirement: Determine the bond amount and specific requirements based on your business size and scope, as mandated by the Arkansas Securities Department.
Application: Apply for the bond through Alpha Surety Bonds, providing necessary business details and documentation.
Documentation: Submit required documents, which may include business financial statements, organizational structure, and proof of compliance processes.
Receive and File Your Bond: Once your application is approved and the bond is issued, file it with the Arkansas Securities Department as part of your license or renewal application.

Why Choose Alpha Surety Bonds

Alpha Surety Bonds offers several advantages for businesses needing a Money Transmission Bond:

Deep Industry Knowledge: Our expertise in the financial sector ensures that we understand the specific needs and challenges of money transmission businesses.
Fast and Reliable Service: We are committed to processing your bond application quickly and efficiently, helping you meet critical deadlines.
Competitive Pricing: We offer competitive rates on surety bonds, minimizing your cost while maximizing compliance.
Supportive Customer Service: Our dedicated team provides personalized support throughout the bonding process, from initial application to final approval.

Secure Your Business and Protect Your Customers

With the Arkansas Money Transmission Bond, you strengthen your business’s compliance and consumer protection strategy, laying a foundation of trust and security. Contact Alpha Surety Bonds today to start the application process and take a crucial step towards securing your business operations and protecting consumer interests.

Arkansas Restoration of Highway – Right of Way Bond: Guaranteeing Roadway Integrity

Posted on April 12, 2024April 12, 2024 by Rachelle

Get An Instant Quote on Arkansas – Restoration of Highway – Right of Way Bond

Companies or individuals planning to perform work within or adjacent to state highway rights-of-way in Arkansas are required to secure a Restoration of Highway – Right of Way Bond. This bond is essential to ensure that any public land affected by construction or other activities is returned to its original condition or better. It guarantees that the bondholder will cover the cost of any necessary repairs or restorations to the roadway and surrounding infrastructure, protecting the state’s investment in its highways.

This bond is a proactive measure to maintain the safety and integrity of public roadways, ensuring that they remain safe for drivers and are restored to satisfactory condition after any work is done. It’s a critical component for any project that involves highway access or impact, demonstrating a commitment to responsible construction and infrastructure management.

In this guide, we’ll explore the importance of the Arkansas Restoration of Highway – Right of Way Bond, who needs it, its features, how to secure one, and the benefits of working with Alpha Surety Bonds to meet your surety needs.

Who Needs an Arkansas Restoration of Highway – Right of Way Bond?

This bond is necessary for:

Construction Firms: Companies engaged in construction projects that involve work on or near state highways.
Utility Companies: Utilities that need to access state rights-of-way for installation, maintenance, or repair of utility lines.
Developers: Property developers who require access to state highways for ingress and egress to development sites.

Features of the Arkansas Restoration of Highway – Right of Way Bond

The Restoration of Highway – Right of Way Bond includes several key features:

Financial Security: Provides financial assurance that the roadway and any associated infrastructure will be properly restored after project completion.
Compliance: Ensures compliance with all state laws and regulations regarding highway and right-of-way maintenance and restoration.
Public Safety: Helps maintain public safety by ensuring that all work performed within the right-of-way does not negatively impact the structural integrity or usability of the highway.

Procedure on How to Get the Arkansas Restoration of Highway – Right of Way Bond

Securing a Restoration of Highway – Right of Way Bond involves a few key steps:

Identify Bond Requirements: Determine the bond amount and specific conditions required by the Arkansas Department of Transportation or local authorities.
Apply for the Bond: Submit an application to Alpha Surety Bonds, providing details about the project and your company.
Provide Necessary Documentation: Supply any requested documents, such as project plans, company financials, and previous work history.
Receive and File Your Bond: Once approved, receive your bond document and submit it to the required state or local agency.

Why Choose Alpha Surety Bonds

Choosing Alpha Surety Bonds offers numerous advantages for businesses needing a Restoration of Highway – Right of Way Bond:

Industry Expertise: We specialize in providing bonds for infrastructure projects, offering tailored advice and support.
Quick and Efficient Service: Our processes are streamlined to ensure you receive your bond quickly and efficiently, helping you meet project timelines.
Competitive Rates: We strive to offer the most competitive rates in the industry, reducing your project costs while ensuring compliance.
Comprehensive Support: Our team is committed to providing ongoing support, from the application process to final bond filing, ensuring a smooth experience.

Secure Your Project and Protect Public Assets

With the Arkansas Restoration of Highway – Right of Way Bond, you ensure that your work on state highways is conducted responsibly and that all restoration requirements are met. Contact Alpha Surety Bonds today to begin the process and guarantee compliance and safety on your next project.

Arkansas Public Official Bond: Upholding Integrity and Accountability

Posted on April 12, 2024 by Rachelle

Get An Instant Quote on Arkansas – Public Official Bond

Arkansas Public Official Bonds are a crucial requirement for many public office positions within the state. These bonds ensure that public officials adhere to all applicable laws and regulations while performing their duties. The bond serves as a form of insurance that protects the public from any potential misconduct or malfeasance by a public official, ensuring that officials perform their duties ethically and responsibly.

This type of bond is not only a safeguard for the state and its citizens but also a testament to the official’s commitment to uphold their duties with integrity. By securing a Public Official Bond, officials demonstrate their dedication to transparency and accountability, which is fundamental to building trust with the communities they serve.

In this guide, we will discuss the importance of the Arkansas Public Official Bond, who needs it, its key features, how to secure one, and why working with Alpha Surety Bonds is beneficial for those entering public service.

Who Needs an Arkansas Public Official Bond?

Public Official Bonds are required for:

Elected Officials: Individuals elected to positions such as judges, mayors, and treasurers.
Appointed Officials: Appointees to various governmental positions that involve handling public funds or making discretionary decisions on behalf of the state or local government.
Law Enforcement Officers: Certain positions within law enforcement that require a bond as part of the integrity assurance process.

Features of the Arkansas Public Official Bond

The Public Official Bond provides several key benefits and features:

Financial Protection: Compensates the government and the public for losses due to the public official’s failure to perform duties ethically and lawfully.
Legal Compliance: Ensures that public officials comply with all relevant laws and regulations, helping to prevent corruption and malpractice.
Enhanced Public Trust: Increases confidence in the public administration by ensuring that officials are bonded and therefore more likely to adhere to high standards of conduct.

Procedure on How to Get the Arkansas Public Official Bond

To secure an Arkansas Public Official Bond, follow these steps:

Determine the Required Bond Amount: Check with the relevant government department or authority to find out the bond amount you are required to carry.
Apply for the Bond: Complete an application with Alpha Surety Bonds, providing details about your position and the obligations it entails.
Submit Necessary Documentation: Provide any necessary documents that verify your public position and the requirements for bonding.
Receive and Register Your Bond: Once your bond is approved and issued, register it with the appropriate government body as evidence of your compliance.

Why Choose Alpha Surety Bonds

Working with Alpha Surety Bonds to obtain your Public Official Bond offers several advantages:

Expertise in Government Bonds: We specialize in surety bonds for government officials and understand the unique needs and challenges associated with these bonds.
Fast and Efficient Service: Our streamlined processes ensure that you receive your bond quickly and efficiently, without unnecessary delays.
Competitive Rates: We offer competitive pricing on bonds to ensure that public officials can meet their statutory requirements without undue financial burden.
Supportive Customer Care: Our team provides ongoing support throughout the bond application and issuance process, helping you navigate any complexities.

Commit to Excellence in Public Service

By securing an Arkansas Public Official Bond, you affirm your commitment to serve with integrity and accountability. Contact Alpha Surety Bonds today to start the process and take a significant step towards fulfilling your duties responsibly and ethically.

Arkansas Certificate of Title Bond: Securing Vehicle Ownership

Posted on April 12, 2024 by Rachelle

Get An Instant Quote on Arkansas – Certificate of Title Bond

Obtaining a Certificate of Title Bond in Arkansas is essential for individuals who wish to register a vehicle without a standard proof of ownership. This bond helps ensure that the vehicle is not stolen and indemnifies previous owners and the state against financial loss. Whether due to lost, stolen, or inaccessible vehicle titles, this bond allows the holder to proceed with vehicle registration and legally establish ownership.

The Arkansas Certificate of Title Bond acts as a protective measure for the state and potential claimants, providing a guarantee against claims that may arise from the issuance of a new title. It is crucial for safeguarding all parties’ interests and ensuring that the vehicle’s ownership is rightfully established and recognized by the state.

This guide will cover who needs this bond, its benefits, the process to acquire it, and the reasons for choosing Alpha Surety Bonds to secure your bond effectively.

Who Needs an Arkansas Certificate of Title Bond?

An Arkansas Certificate of Title Bond is necessary for:

Vehicle Buyers: Individuals who purchase vehicles without a title, or with a title that is deemed invalid or defective by the Department of Motor Vehicles.
Vehicle Sellers: Sellers who cannot provide a clear title at the time of sale and wish to facilitate the transfer of ownership.
Classic Car Collectors: Collectors dealing with older vehicles where original titles are often missing or never issued.

Features of the Arkansas Certificate of Title Bond

The Certificate of Title Bond offers several key benefits:

Legal Ownership: Enables individuals to register vehicles and establish legal ownership in the absence of a conventional title document.
Protection Against Claims: Protects against potential claims made by anyone who later presents a valid claim to the vehicle.
Compliance: Helps vehicle owners comply with state regulations necessary for registering and titling vehicles in Arkansas.

Procedure on How to Get the Arkansas Certificate of Title Bond

Securing an Arkansas Certificate of Title Bond involves the following steps:

Verify Requirements: Determine the bond amount required by the Arkansas Department of Motor Vehicles, which is typically based on the vehicle’s value.
Apply for the Bond: Submit an application with Alpha Surety Bonds, providing details about the vehicle and your ownership situation.
Document Submission: Provide any required documentation, such as a bill of sale or an appraisal of the vehicle.
Receive and Use Your Bond: Once approved, receive your bond certificate, which you will then submit to the DMV along with your application for a new title.

Why Choose Alpha Surety Bonds

Alpha Surety Bonds provides numerous advantages for those needing a Certificate of Title Bond:

Specialized Knowledge: Our team has extensive experience with title bonds, ensuring that we can guide you through the process smoothly and effectively.
Quick Processing: We understand the urgency of vehicle transactions and strive to process your bond quickly to avoid any delays.
Competitive Rates: We offer competitive rates on title bonds, helping you meet your needs without excessive costs.
Comprehensive Support: Our experts are here to help you at every step, from initial application to successful title registration.

Secure Your Vehicle’s Title Today

With the Arkansas Certificate of Title Bond, you can confidently secure your vehicle’s registration and ownership. Contact Alpha Surety Bonds today to start the process and ensure that your vehicle is legally protected and registered under your name.

Arkansas Water Well Contractor’s License Bond: Ensuring Quality and Compliance

Posted on April 12, 2024 by Rachelle

Get An Instant Quote on Arkansas – Water Well Contractor’s License Bond

In Arkansas, water well contractors must secure a Water Well Contractor’s License Bond as a prerequisite for obtaining a license. This bond is crucial for safeguarding public health and environmental resources, ensuring that water well construction, service, and maintenance meet state regulations and industry standards. It acts as a financial guarantee that contractors will adhere to applicable laws and regulations, protecting the state and the public from potential malpractice or non-compliance.

The Arkansas Water Well Contractor’s License Bond provides confidence to the public that water well contractors are committed to professional and ethical business practices. By securing this bond, contractors demonstrate their responsibility towards environmental stewardship and public health.

This guide will explain who needs this bond, its key features, how to secure it, and why partnering with Alpha Surety Bonds is beneficial for contractors looking to affirm their credibility and reliability in the industry.

Who Needs an Arkansas Water Well Contractor’s License Bond?

This bond is required for:

New Contractors: Individuals applying for their initial water well contractor license in Arkansas.
Renewing Contractors: Existing licensed contractors who need to renew their bond as part of the license renewal process.
Contractors Expanding Services: Contractors expanding their service offerings to include water well drilling or maintenance, which requires additional licensing and bonding.

Features of the Arkansas Water Well Contractor’s License Bond

The Arkansas Water Well Contractor’s License Bond offers several benefits:

Financial Assurance: Provides a recourse for the state and consumers if the contractor fails to comply with licensing laws, thereby ensuring that any breaches of regulation can be addressed financially.
Regulatory Compliance: Encourages contractors to adhere to high standards in well construction and maintenance, fostering trust and safety in environmental health practices.
Consumer Confidence: Enhances consumer confidence in the integrity and quality of the services provided by licensed water well contractors.

Procedure on How to Get the Arkansas Water Well Contractor’s License Bond

Obtaining an Arkansas Water Well Contractor’s License Bond involves several straightforward steps:

Determine Bond Requirements: Check with the Arkansas Department of Health or the specific licensing board for the exact bond amount and requirements tailored to water well contractors.
Apply for the Bond: Submit a bond application with Alpha Surety Bonds, providing all necessary business details and evidence of compliance capabilities.
Documentation Submission: Provide any required documentation, such as proof of prior work, business financials, and personal credentials.
Receive and File Your Bond: Once approved, receive your bond document, which must then be filed with the licensing board as part of your license application or renewal process.

Why Choose Alpha Surety Bonds

Choosing Alpha Surety Bonds for your Water Well Contractor’s License Bond offers numerous advantages:

Expert Guidance: Our team has deep expertise in environmental and contractor-related bonds, ensuring that you receive knowledgeable and specific advice.
Efficient Service: We prioritize quick processing to ensure you can start or continue your contracting work without delay.
Competitive Pricing: We offer competitive rates to help keep your business expenses manageable while ensuring compliance with state regulations.
Dedicated Support: Our support team is committed to assisting you throughout the bonding process, from application to approval, making sure all your questions are answered.

Secure Your License and Build Trust

With the Arkansas Water Well Contractor’s License Bond, you ensure compliance with state laws, protect public health, and enhance your business reputation. Contact Alpha Surety Bonds today to secure your bond and take a decisive step

Arkansas Performance Bonds

Posted on November 5, 2018June 3, 2022 by Admin

What’s a Performance Bond in Arkansas?

A performance bond is a three party contract between the Obligor (the General Contractor, or the party getting the bond), the Obligee (the party that gets the benefit of the bond; i.e., the government or owner) and the Surety (the party guaranteeing the performance of the Obligor).

How much does a Performance Bond in Arkansas?

The cost of a P&P bond can vary commonly depending upon the amount of protection that is needed. It is based upon the total quantity of the contract. Things that can affect this rates are the perceived danger of the task, the financial position of the person being bonded, plus other factors.

Bond costs change based on the task size. The cost of a bond is estimated through a number of back-of-the-envelope calculations. In basic, the cost is roughly 3 percent (3%) for jobs under $800,000 and after that the percentage is lower as the agreement quantity increases. We work diligently to discover the most affordable premiums possible in the state of Arkansas Please call us today at (913) 361-5424. We’ll discover you the absolute best rate possible for your maintenance bond or conclusion bond.

Bond Amount Needed	Fee
<$800,000	2-3%
>$800,000<$1,500,00	1.5-3%
>$1.500,000	1-3%

These rates are for Merit customers, Standard rates are higher.

Simply fill out our bond application here and email it to gary@alphasuretybonds.com

What is the process to get a Performance and Payment Bond in Arkansas?

We make it simple to get a contract performance bond. Simply click here to get our Arkansas Performance Application. Fill it out and then email it and the Arkansas agreement documents to gary@alphasuretybonds.com or fax to 855-433-4192.
You can also call us at (913) 361-5424. We completely review each and every application for industrial bonds and after that submit it to the surety that our company believe will provide the very best p & p bond for your matter. The surety broker will perform a credit check. We have a high success rate in getting our customers performance bonds at the very best rates possible.

Find a Performance Bond near Me.

What is a Payment Bond? Is it a part of the Performance Bond?
A payment bond is a bond that ensures that the subcontractors and material suppliers are paid. The payment provides that if the subcontractors are not paid timely and they make a legitimate claim, then the surety will pay them (and then gather and attempt from the general specialist). And yes, it is included with the Performance Bond.

What is a payment and performance and maintenance bond? What is a contract bond?

Normally, a payment and performance bond are done together in the exact same agreement by the surety. In this manner, the owner of the project is guaranteed that the project can be completed pursuant to the regards to the contract and that it will not be liened by any specialist. The bond is performance security for the advantage of the owner.

Which Party Gets the Bond?

The main company is the entity that gets the bond. It is for the benefit of the owner (or when it comes to government agreement work, the governmental entity). It’s the general professional that needs to get the bond and be underwritten prior to the performance and maintenance and payment bond is written by the surety. This is likewise referred to as bonding an organisation.

How to Get a Performance Bond in AR

Just call us. We’ll deal with you to get the very best Arkansas bond possible.

We provide surety performance and payment bonds in each of the following counties:

Arkansas
Ashley
Baxter
Benton
Boone
Bradley
Calhoun
Carroll
Chicot
Clark
Clay
Cleburne
Cleveland
Columbia
Conway
Craighead
Crawford
Crittenden
Cross
Dallas
Desha
Drew
Faulkner
Franklin
Fulton
Garland
Grant
Greene
Hempstead
Hot Spring
Howard
Independence
Izard
Jackson
Jefferson
Johnson
Lafayette
Lawrence
Lee
Lincoln
Little River
Logan
Lonoke
Madison
Marion
Miller
Mississippi
Monroe
Montgomery
Nevada
Newton
Ouachita
Perry
Phillips
Pike
Poinsett
Polk
Pope
Prairie
Pulaski
Randolph
St. Francis
Saline
Scott
Searcy
Sebastian
Sevier
Sharp
Stone
Union
Van Buren
Washington
White
Woodruff
Yell

And Cities:
Little Rock
Fayetteville
Hot Springs
Fort Smith
Bentonville
North Little Rock
Conway

See our California Performance and Payment Bond Application here.

An Examination Of The Techniques When Looking At Performance Bonds

You need to understand that a Surety Performance Bond is really important to any person, but it’s quite complex if you don’t have any idea about this. This isn’t a type of insurance claim since this is a kind of guarantee that the principal will do the work effectively for the obliged. You have to understand that some individuals will require you to get a specific bond before they actually opt for your services since it will be a kind of guarantee to them. They need this type of thing from you so you should look for an insurance company which can offer this to you. If you’d like to look at a license bond, permit bond, commercial bond and more, you should know what it means.

An Explanation On Performance Bonds

Performance Bonds will always be required by the public because it will protect them and it will guarantee that the principal will fulfill their commitments. You are the principal so you have to get a license Surety Performance Bond to guarantee that your company will usually adhere to the laws and you should get a contract bond to guarantee that a public construction project will likely be completed. There are examples which will provide an idea on Surety Performance Bond.

This is actually made for the clients because they will likely be protected by the bond, but it may provide advantages to you as well because they would trust you if you have this.

The Work Of A Surety Performance Bond

Performance Bonds are often known as a three-party agreement between the principal, the obliged and the surety company. The obliged is in fact the project owner and the principal is the employer or company that will do the work. Construction organizations will be asked by the law to obtain Performance Bonds when they’re chosen for a public project. The government will require a construction company to secure a host of bonds before they are allowed to work on a certain project. The bond will guarantee that the subcontractors and the other workers can be paid even if the contractor will default. The contractor will be covering the losses, but when they reached their limit, the duty would fall to the surety company.

The Application For A Surety Performance Bond

Performance Bonds are actually provided by insurance companies, but you may always look for standalone surety organizations that will concentrate on these products. It will not be simple to apply for a bond since the applicant will need to experience a strict procedure that is comparable to applying for a loan. The bond underwriters will definitely evaluate the financial history of the applicant, their credit profile and other key factors to guarantee that they will probably be approved. It also signifies that there’s a chance that you will be denied for a Surety Performance Bond, especially when the underwriters found something negative on the credit history.

How Much Do You Should Spend?

You can’t really find an exact price for a Surety Performance Bond because its cost is always affected by numerous factors like bond type, bond amount, where it will likely be issued, contractual risk, credit rating of the applicant and more. There are definitely thousands of different bonds available right now and the cost will depend upon the bond that you want to obtain. The amount of bound that you may avail may also be a big factor because you may select a $10,000 bond or a $25,000 bond or higher.

If you already have a credit rating of 700 and above or very near this number, you could qualify for the standard bonding market and you only have to pay 1 to 4 percent of the Surety Performance Bond amount. It means that if you may actually get a $10,000 bond, you only need to pay about $100 to $400.

The Possibility Of Being Denied

There’s a chance that your license and permit bond request will actually be refused by the insurance providers and it will always depend on their background check. Once they actually believe that giving you a bond will be a big risk, they will not release a Surety Performance Bond for you.

Credit score is also a big factor since in case you have a bad credit history, it will likely be hard for you to get a Surety Performance Bond as the businesses are thinking about you as a risk. In case you have a bad credit score, you can still be accepted for the bond, but you’ll pay an interest rate of 10 to 20 percent.

There’s a chance that your application will likely be rejected so you have to look at the requirements before you apply.

You must understand that a Surety Performance Bond is vitally important for businesses, especially if they will be doing a government project. Performance Bonds will be used for many things, but they have one thing in common – they will usually protect the obliged.