Frequently Asked Questions

These are the most frequently asked questions when purchasing a bond. If you cannot find the answer to your question below, please Contact Us.
 

What type or amount of bond do I need?

Usually the requesting entity will tell you what type of bond you need and what amount to purchase.

How do I apply for a bond?

Simply select the type of bond from the drop-down menu box located at left. You may then choose whether to apply online or by printing and faxing the application to 713-785-2711.

How much does a bond cost?

Bonds that do not require a credit check have a set price. Other bonds require a credit check and the prices are determined by the underwriting department of the bonding company.

Why do you need to check my credit to issue me a bond?

The bonding company is guaranteeing to pay on your behalf the amount of the bond if any claims arise against your bond. The bonding company needs some assurance that you are a responsible person who is able to pay back the penalty paid against your bond.

If I have bad credit, what steps should I take to purchase a bond?

Bonds that require no credit check can be issued regardless of credit history. There is a market for high risk applicants, and we will guide you through the steps to purchase a bond if the standard bond market does not apply to your situation.

What methods of payment do you accept?

We accept all major credit cards, or you can mail us a check or money order.

How long does a bond last?

Bond durations are stated on the application page.

How long does it take to issue a bond?

A bond is usually issued within 24 hours of receipt of application, unless the underwriting department has any questions or concerns regarding the applicant and needs more information.

I was asked by my bonding agent to complete a financial statement form. Why is this form needed?

The bonding company is guaranteeing to pay on your behalf the amount of the bond if any claims arise against your bond. The bonding company needs some assurance that you are a responsible person who is able to pay back the penalty paid against your bond.

What is the difference between a surety bond and an insurance policy?

An insurance policy insures a person or a property against claims arising from events stated on the insurance policy. A bond is simply a guarantee from the bonding company that the person will fulfill his obligations and the bonding company will collect the money paid on the claim from the customer if a claim arises.

What is a bonded title?

A bonded title is a procedure used to obtain a vehicle title when you do not have a title assigned to you. You have to file documents with the state motor vehicle department and obtain a surety bond from a surety bonding company to surrender to the state. Once you do this you get a title in your name.

How can I apply for a title bond?

Bonded Title Procedure. If you do not have acceptable evidence of ownership for a vehicle you own, you may have the option of applying for a bonded title.

First you have to obtain a letter of rejection from Texas motor vehicle department- Contact TxDot, and then take letter of rejection to a surety Bond Company to get a title bond issued.

How do I get my auto dealer license?

First, you have to contact your State Motor Vehicle Department and request an application to obtain a dealer license. Second, apply for a dealer bond through a surety bonding company and make sure you can qualify a dealer bond. Last make sure to complete dealer license application in full, sign and mail it back with the dealer bond and application fees to your State motor vehicle department. Dealer license application might take up to 45 days to get processed.

What is a Sales Tax Bond?

A sales tax bond and sales use tax bond is a common way to guarantee compliance with the state or municipality which is requiring you to be bonded. It is the retailers responsibility to report the correct amount of sales and use tax and to pay the taxes or fees due to the state. However you must make sure your taxes and fees are paid in a timely manner otherwise if you are delinquent on your sales tax the state could file a claim against your bond, if this is the case your bond will be subject to cancellation and the indemnification retrieval process will go into effect.

What is an Employee Dishonesty Bond?

Employee Dishonesty Bonds (also known as Fidelity or crime bonds) are utilized by merchants to guarantee money, securities and property against loss caused by employee dishonesty. This type of surety bond protects both your business and your customers from loss incurred by dishonest acts by your employees.

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February 22nd, 2012 by All State Bonds