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What is a Surety Bond?
A surety bond is a guarantee - what the bond specifically guarantees depends on the language of the bond. Surety bonding is a form of credit, not insurance. However, many are mislead to believe so, as many refer to surety bonds as surety insurance or surety bond insurance.
Surety bonds are a three party agreement that acts as insurance for the obligee, the party requiring the bond (usually the government) of the principal (you).

The final party involved is the surety company, that's where we come into play. We only use top rated surety companies to ensure they meet the financial requirements to be accepted by local, state, and federal governments.

What if I have bad or challenged credit?
Our agency has access to all the major carriers and are able to assist the needs of all clients, even those with  challenged credit, including bankruptcies, tax liens and bank foreclosures. 


COMMON BONDS:

Auto Dealer Bond
Auto dealers along with used car dealers are required to guarantee the dealer operates per the terms of the state (see state specific rules and regulations). They are also referred to as a DMV bond or a used car dealer bond. 

Contractor License Bond
Contractor's License Bonds promise that the contractor will operate his/her business as stated by the local or state government. 

Bid Bond
A bid bond is a guarantee that the bonding company will provide a performance bond if the contractor is awarded the job.

Payment Bond
A payment bond assures that the suppliers, laborers, and subcontractors will be paid if the contractor defaults.

Performance Bond
A performance bond is a bond to guarantee the completion of a project per the terms of the contract.

Disciplinary Bond
The bond must be filed in addition to, and cannot take the place of or be combined with, any other bonds required to maintain an active contractor's license;  The Registrar determines the bond amount, which is based on the seriousness of the violation(s). The amount may not be less than $15,000, nor greater than ten times the amount of the contractor's bond. The bond must remain current and on file with the Registrar for at least two years. In some cases, the Registrar may require a longer filing period; and the firm's license must remain active and current while the disciplinary bond is on file.

Sales Tax Bond
A sales tax bond is a commercial bond that guarantees a company's payment of sales tax to the government.

Insurance Broker Bond
An insurance broker bond is required in some states and will require a license bond to guarantee the performance of insurance brokers within their state.
   

Pacific West Bonds has access to all major bond companies for all types of surety bonds specializing in the needs of contractors including license, disciplinary, performance, payment and bid bonds.  We also specialize in Auto Dealer, DMV and Insurance Broker Bonds

Please contact us by either phone or email we will be happy to assist you!

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