Washington Surety Bond
Apply for a Washington State Surety Bond today! Absolute Surety is a leading provider of WA bonds online. Apply easily online & take advantage of lowest rates. Quickly browse the bond types we offer for this state, or contact us for a full list.
Washington Surety Bond Requirements
All required surety bonds issued in Washington fall into one of three broad categories: license and permit bonds, contractor bonds, or court bonds.
Washington License and Permit Bonds
Many individuals and companies that must be licensed in order to operate legally in Washington are also required to obtain a license and permit bond and renew it periodically to keep the business license current. The bond guarantees that the licensee will comply with all applicable rules and regulations. It protects government agencies and consumers from financial loss due to the licensee’s improper actions.
Among the state agencies and municipalities requiring license and permit bonds are the:
- Washington State Department of Labor and Industries, which licenses general and specialty contractors, amusement ride inspectors, explosives specialists, asbestos removal companies, farm labor contractors, and other individuals and businesses
- Washington State Department of Licensing, which issues licenses to many types of businesses including appraisal management companies, auctioneers, bail bond agencies, collection agencies, cosmetology schools, barbers, beauty salons, tattoo artists, promoters of professional boxing, martial arts, and wresting, travel agencies, real estate agencies, new and used auto dealers, taxi companies, car rental agencies, and many other professionals and businesses
Use our online search tool to find out license and permit bonds you may need to obtain in order to do business in Washington.
Contractor Bonds in Washington
In addition to the continuous contractor’s license bond required at the state level, contractors may be required to obtain a bid bond, performance bond, payment bond, or other contractor bond in order to be awarded a public works contract in certain municipalities.
Washington Court Bonds
Washington courts may require plaintiffs or defendants appealing a case to obtain a surety bond as a guarantee that court fees and any monetary damages under a judge’s order will be paid. A surety bond may also be required for anyone acting as executor of an estate, as guardian or conservator for another person, or as a bankruptcy trustee. In these instances, a court bond guarantees that a person will faithfully carry out all fiduciary responsibilities with honesty and integrity and in compliance with applicable rules and regulations.
Understanding Surety Bond Costs
The amount of the bond is set by the entity requiring the bond (the obligee). The cost is determined by multiplying that bond amount by the premium rate established for the applicant based on the individual’s credit history. Applicants with poor credit pay a higher premium rate than those with good credit.
What Happens When A Claim Is Filed?
The surety company is obligated to pay all valid claims against your bond. However, you are ultimately responsible for any financial loss due to your actions and must repay the surety company.
We offer low rates through an extensive provider network, with turnaround times of 24 hours or less.