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License and permit bonds are a sub-category of bond type. This commercial bond is required by certain federal, state or municipal governments as a prerequisite to receiving license or permit to engage in certain business activities.
Government agencies require business owners in certain industries to purchase their bonds before they can be legally licensed. Bonds protect consumers by guaranteeing business adheres to laws and other regulations enforced by federal state and local government agencies.
These bonds function as a guaranty from a Surety to a government and its constituents.
It is the business owner’s responsibility to have a license bond before conducting work. Check government and state websites for more information in your industry. Call our agents with your questions and get reliable insurance information and quotes.
We believe in supporting our clients through every step of the insurance process. From choosing the right coverage to filing a claim, we are here to offer guidance and support. Request a free quote today and get coverage that meets your unique needs.