Commercial surety bonds are agreements that protect businesses. They’re generally required by state laws for various industries, and guarantee some aspect of a principal’s occupation. A contractor license bond, for example, guarantees the contractor will comply with required construction codes.
With more than 50 years of business bond experience, a network of first-class agents stretching from California to Maine and a team of dedicated surety bond underwriters, Nationwide understands your unique commercial bonding needs. And we have the expertise to help you find the bond that’s right for your business.
Types of commercial bonds
Some of the commercial bonds we provide include:
- AG dealer bonds, or agricultural dealer bonds, are required for people licensed with the Department of Agriculture who buy and resell agriculture products. These bonds include grain dealer bonds, hay dealer bonds, livestock dealer bonds, milk dealer bonds and produce dealer bonds.
- ARC bonds, or travel agent bonds, are required by the Airlines Reporting Corporation to guarantee that payments collected by a travel agency are forwarded to the right airline.
- Auctioneer bonds are required for auctioneers and auction houses to protect bids and purchases.
- Auto dealer bonds, or motor vehicle dealer (MVD) bonds, help assure the general public – specifically those who do business with a dealer – that the dealer will comply with the law. Other dealer bonds include boat dealer bonds, mobile home dealer bonds, snowmobile dealer bonds and vessel dealer bonds.
- Fuel tax bonds are required by fuel sellers to guarantee payment of taxes.
- License and permit bonds are required by federal, state or municipal governments before they can grant a professional license in certain occupations or professions. License and permit bonds include contractor license bonds, electrician bonds, HVAC commercial bonds, non-resident license bonds and plumber bonds.
- Liquor bonds guarantee compliance with federal and state laws pertaining to the sale, manufacturing and warehousing of alcohol.
- Lottery bonds are required for any establishment with a lottery machine. This bond guarantees proper use of the machine to ensure there is no abuse to the state lottery system.
- Notary public bonds are required by state statutes to protect against losses resulting from any improper actions of notaries.
- Motorcycle dealer bonds guarantee that motorcycle dealers comply with laws, required tax payments and, in some cases, payment of judgments.
- Mortgage broker bonds guarantee that mortgage brokers will abide by state laws and regulations under the mortgage broker license code.
- Public official bonds guarantee faithful performance of official duties, and are generally for the protection of taxpayers.
- Title bonds are required to register a vehicle or other property due to a lost or defective title. Title bonds are also known as certificate of title bonds, defective title bonds and lost title bonds.
- Utility bonds are financial guarantee bonds that ensure the payment of utility bills.
- Warehouse bonds guarantee that goods stored in a warehouse will be delivered on presentation of a receipt.
Contact an agent today to obtain protection with the commercial bond that suits your needs.