The Surety Bond Application Process Explained

Once you’ve determined you need a surety bond to conduct business in the Youngsville, NC area, you can get started on the surety bond application process. Fortunately, the process is quite easy and involves a few simple steps.

Here’s what you need to do: 

Figure out the bond type and amount

The three most common types of bonds in North Carolina are bid, performance, and payment bonds. But no matter the type of bond, you can expect the cost of your surety bond to be somewhere between 1% and 5% of the total bond amount. 

Collect information required for the application

This includes your business name, license number (if applicable), address, and owner information. 

Obtain your free no-obligation quote through Holmes Insurance Services

Opting to work with our surety bond experts means choosing professionals who have your best interests at heart and offer competitive rates. 

Purchase your bond

By working with one of our surety experts, you’re working with professionals who are fast and efficient and keep your information secure. Although the amount of time it takes to receive your bond after purchase depends on different factors, such as the type of bond, you can generally expect to get it within three days. 

File the surety bond

You’ll have to get in touch with the obligee to determine if they need a digital or raised seal. Once that part is out of the way, you can sign your bond as the principal before submitting it to the obligee. After that, you’re all set! 

Give Us A Call

As you can see, the surety bond application process is quite simple and painless. And, with the help of our surety bond professionals at Holmes Insurance Services, we can make the process even easier for you. Serving the Youngsville, NC area, our surety experts can help you with all your surety bond and insurance needs. Contact an agent now to get a free no-obligation quote.