Commercial Bonds generally refer to bonds that aren’t related to a specific contract. They are generally purchased by companies in order to be in compliance with certain legal statutes or licensing requirements. In most cases, commercial bonds are considered to be low-risk, so it’s usually a quick and easy process to get the bonds approved especially when working with the surety bond professionals at Baldwin Cox Allen. In many cases we can get same day approval and issuance of these bonds.
Commercial Bonds typically costs between 1% and 3% of the penal sum amount of the bond. However, due to there being so many different types of commercial bonds the rate can vary substantially. If it’s just simple license & permit bond, it’s usually going to be a fairly low rate and minimal underwriting will need to take place. But if it’s a Taxable Fuel Bond with a long duration, then the rate could be anywhere from 1% to 5% and there will be considerable underwriting needed in order to get it approved.
Since we’re surety bond professionals, we excel at all types of commercial bonds and enjoy finding solutions to even the most challenging commercial bonds. We’ve had many cases where we’ve written a bond after the previous agent told our client it was impossible, or it couldn’t be done. Our goal will be to get the bonds done quickly at the lowest possible price!
The following are some of the types of commercials bonds we offer:
We realize that WE aren’t successful, unless YOU are successful. Whether this means turning around a bid bond in an hour, expanding your bond program limits, providing feedback on your financial statement presentation, or just providing the best customer service possible, we are committed to our clients. We are dedicated to serving you competitively, professionally, and responsively.