Louisiana Surety Bond
We offer all types of surety bonds for many different businesses. Apply for a Louisiana Surety Bond today! Absolute Surety is a leading Louisiana surety bond company. Apply easily online and take advantage of lowest rates.
Louisiana Surety Bond Requirements
There are three broad categories of mandatory bonds in Louisiana:
- License & Permit Bonds are required for certain individuals and companies applying for or renewing a license to do business in Louisiana.
- Contractor Bonds are required by certain cities and municipalities for contractors that want to bid or work on public construction projects.
- Court Bonds may be required for plaintiffs or defendants appealing a court decision and for those with fiduciary responsibility, such as serving estate executors, guardians and custodians, or bankruptcy trustees.
Louisiana License & Permit Bonds
License and permit bonds are typically a statewide requirement imposed by a state agency, such as the:
- Louisiana Office of Financial Institutions, which requires a surety bond as part of the process of becoming licensed as a pawnbroker, residential mortgage lender, or money transmitter.
- Louisiana Alcoholic Beverage Division, which requires liquor stores and grocery and convenience stores applying for a Class E liquor license to obtain and maintain a bond in an amount from $5,000 to $15,000 to guarantee payment of all applicable taxes and fees.
- Louisiana Recreational and used Motor Vehicle Commission, which requires used car dealers to obtain a $50,000 surety bond in order to be licensed to operate in the state.
- Louisiana Motor Vehicle Commission, which requires dealers selling new cars and specialty vehicles to submit a $20,000 bond to obtain a license to do business in Louisiana.
These and other state agencies require license and permit bonds as a way of guaranteeing that licensees will comply with all relevant Louisiana regulations. Use our search tool to find any Louisiana surety bond that you may be required to obtain in order to do business in the state of Louisiana.
Contractor Bonds In Louisiana
Although there is no statewide requirement for contractors to obtain a license and permit bond, some Louisiana cities and municipalities require contractors to obtain a bid bond, performance bond, payment bond, or other contractor bond.
Louisiana Court Bonds
Louisiana courts may require surety bonds from people who are appealing a court decision or acting in a fiduciary capacity.
How Much Does A Bond Cost?
The cost of a surety bond is determined by multiplying the required bond amount by a premium rate that is based on the applicant’s credit history. The premium rate may be as little as 1% – 3% for applicants with good credit or as high as 15% for applicants with bad credit.