How to Obtain a $10,000 Surety Bond

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Step 1

Locate a surety company that provides the specific type of bond that you require. For example, if you need a broker surety bond, there are three types: insurance, mortgage and freight. Some surety companies may provide all three and others may specialize in just one type. There are a number of good informational websites on surety bonds that can assist you finding a qualified company for your bond requirements.

Step 2

Submit an application to the surety company to start the company’s pre-qualification review, which the surety will perform in order to determine whether you are meeting your current obligations and can fulfill future obligations. Every surety company will have its own application requirements, but generally you should be prepared to provide information to complete a background check on you for public record information, such as judgments, tax liens and criminal convictions.

Step 3

Provide the surety company with information regarding your company’s history, its current structure and future plans. This information can be provided as an organizational chart that specifies the important employees; a business plan describing your company’s growth prospects and goals; and a business-continuation plan showing how your company will operate if you become disabled. Also provide a history of significant completed project and letters of recommendation from associates in your industry.

Step 4

Submit audited financial statements to the surety company for the last three years that have been prepared by an independent certified public accountant.

References

About the Author

Joe Stone is a freelance writer in California who has been writing professionally since 2005. His articles have been published on LIVESTRONG.COM, SFgate.com and Chron.com. He also has experience in background investigations and spent almost two decades in legal practice. Stone received his law degree from Southwestern University School of Law and a Bachelor of Arts in philosophy from California State University, Los Angeles.

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