Georgia Surety Bond
Apply for a Georgia Surety Bond today! Absolute Surety is a leading GA surety bond company. Fill out our easy application online, and take advantage of lowest rates. Quickly browse the bonds we offer in GA, or contact us for a full list.
Nonpublic Postsecondary Education Commission Bonds
What Surety Bonds Are Needed In Georgia?
There are three broad categories of mandatory bonds in Georgia:
- License & Permit Bonds are required for certain professionals and businesses seeking or renewing a license to operate in Georgia.
- Contractor Bonds, such as bid bonds or performance bonds, are required in order for a contractor to work on public construction projects in certain cities and municipalities in Georgia.
- Court Bonds may be required for those appealing a court decision. They may also be necessary for those serving as executor of an estate or guardian or custodian of another person.
Georgia License & Permit Bonds
License and permit bonds are typically a statewide requirement imposed by a state agency, such as the:
- Georgia Department of Banking and Finance, which requires a $250,000 bond in order to become licensed as a mortgage lender, or a $150,000 bond for a mortgage broker or processor license.
- Georgia Secretary of State, Professional Licensing Board Division, which requires applicants for a used car dealership license to obtain a $35,000 license and permit bond.
- Georgia State Board for Residential and General Contractors, which requires license applicants to submit proof of net worth, but allows applicants for a Residential Basic & Light Commercial license to instead obtain a $25,000 license and permit bond.
State agencies that require license and permit bonds do so as a guarantee that an individual or company will operate in compliance with all relevant Georgia regulations. Use our tool to search for any bond(s) that you may be required to obtain in the state of Georgia.
Georgia Contractor Bonds
Depending on where contractors want to do business, they may need to obtain a contractor bond—in addition to a license and permit bond. Certain cities or municipalities require contractors to obtain a bid bond, performance bond, or other contractor bond in order to bid, win, or work on public construction projects.
Georgia Court Bonds
People appealing a court decision or seeking approval as the executor of an estate or as the guardian of a minor or custodian of an incompetent adult will be informed by the relevant court of any bonding requirements.
Understanding Surety Bond Costs
The cost of a Georgia surety bond is determined by multiplying the amount of the bond by the applicable premium rate, which can be as low as 1% for those with good credit or as high as 15% for applicants with poor credit.
What Happens When A Claim Is Filed?
Since you are responsible for repaying any amount paid out on a claim, it’s important to choose a surety company that will defend you against invalid claims. Absolute Surety has years of experience in the industry with a wide network of insurance providers.