Title bonds are required in some states to register a vehicle when the original title is lost, stolen, or defective. Title bonds provide a guarantee that the bondholder is the true legal owner of the vehicle.
Contractor bonds are required in most states as part of the licensing process for general contractors and specialty subcontractors such as plumbers, electricians, and HVAC professionals.
Freight broker bonds are required to be eligible for a freight broker license to operate as a freight broker or freight forwarder in the United States. If a broker chooses not to post a surety bond, they have the option to place the total value of the bond into a trust fund by filing Form BMC-85.
If you’re looking to obtain a surety bond it’s important to understand what your surety bond cost is and how it is calculated.
North Carolina contractors must get a license to perform various types of work in the state.