There’s no reason to not call Pro Surety Bond, the surety bond professionals. We specialize in all types of Contract and Construction Bonds including Payment and Performance Bonds, Subdivision and Off Site Bonds, Bid Bonds, License and Permit Bonds, Court Bonds, Fidelity Bonds and all types of Miscellaneous Surety Bonds. 800-314-7003 is the only number you need when purchasing surety bonds. We're proud of the job that our experienced team of bond agents offers to everyone who calls. Call the Salem Surety Bond Pros at 800-314-7003!
Call 800-314-7003! What is a surety bond? A surety bond is a way of financially enforcing an agreement. Governments often use them to enforce a company’s commitment to obey the regulations of their industry, but more specifically, it provides a way for the government to collect on fines incurred from not adhering to those regulations. The role of the surety is to promise that if a claim is made, the surety will make sure the company is good for it by offering the defaulting company a loan to cover the claim, with the company paying the surety back afterward. Pro Surety Bond has over 25 years of combined industry experience. Call even if you don’t think it will be possible to be bonded because of bad credit. Call 800-314-7003!
If you are bidding on public projects for the City of Salem you may be required to post a Bid Bond. The Bid Bond guarantees you will be able to provide the Performance Bonds required in the event you are the low bidder. In essence the Bid Bond pre-qualifies you for the work you are bidding on. Not all jobs require bonding but if they do we can assist you with Bid Bonds, and subsequent Performance and Payment Bonds as required by the state. Please call the Contract Bond Team at Pro Surety Bond for more information.
114 North Broad Street Salem, VA 24153
Phone: (540) 375-3063
Salem is an independent city in the Commonwealth of Virginia, the 42nd most populous. Salem started out as Totero Town, after a local Indian tribe. Salem is a shortened version of Jerusalem, but it is not known why Salem received the name it did. Local legend suggests that it was named after the city of origin of an early settler, being Salem, New Jersey. Salem has the curious distinction of being one of the few cities which are county seats of the counties that surround them, without being politically associated to the county.
How much is a surety bond? The price of a surety bond can vary according to circumstances like what state you need the bond for, how much coverage you need, your financial status, and what kind of bond you need. It’s would be irresponsible to offer a quote here, but we had to offer a number, 1% to 4% of the amount of coverage would fit most surety bond prices. If you fall within the poor credit market, though, premiums can vary from 5% on up to 15%, possibly more. These figures can be modified by putting up collateral though. Call the Salem Surety Bond Pros Today at 800-314-7003!
Why do I have to buy a bond when I end up paying the claim in the end? It’s true that you do have to repay the surety for any claims paid. This seems strange since we think of insurance as covering everything in principal. But sureties do things a little differently. You buy a surety bond to make sure a commitment is met, not cover damages in the normal sense most people think of. If someone makes a claim against your bond, whether you agree with the claim or not, the surety must pay it. In this sense bonds differ from insurance.
Who are the parties in a surety bond transaction? There are three parties in a surety bond transaction. The first is the obligee, the party that wants the coverage. Coverage from whom? From the principal, which is probably you. The third party is the surety itself, also known as the obligor. The obligee needs a guarantee against default on a commitment from the principal, but since it’s expensive financing your own guarantee, the surety steps in to promise the obligee that if it needs the commitment to be performed, the surety will make sure it’s done (assuming the claim is valid). Give us a call at 800-314-7003
611 East Main Street Salem, VA 24153Phone: 540.387.0267
There are literally thousands of different Surety Bonds to guarantee the performance of businesses and individuals. The following list of are the bonds we most commonly see.
|Salem Travel Agency Bond||Salem Appeal Bond|
|Salem Public Official Bond||Salem Executor Bond|
|Salem ERISA Bond||Salem Third Party Administrator Bond|
|Salem Bid Bond||Salem Sheriffs Indemnity Bond|
|Salem Labor Bond||Salem Supersedeas Bond|
|Salem Subdivision Bond||Salem Race & Sports Book Bond|
|Salem Notary Bond||Salem Contractor’s License Bond|
|Salem Used Car Dealer Bond||Salem Business Service Bond|
|Salem Replevin Bond||Salem Payment Bond|
|Salem Janitorial Service Bond||Salem Promoter Bond|
|Salem Auto Dealer Bond||Salem Mortgage Lender Bond|
|Salem Title Agency Bond||Salem Health Club Bond|
|Salem Release of Lien Bond||Salem Non Resident Cost Bond|
|Salem Insurance Broker Bond||Salem Talent Agency Bond|
|Salem Medicaid Provider Bond||Salem Employee Theft Bond|
|Salem Mortgage Broker Bond||Salem Honesty Bond|
|Salem Home Health Care Bond||Salem Garage Bond|
|Salem Injunction Bond||Salem Emissions Station Bond|
|Salem Off Site Improvement Bond||Salem Pharmacy Wholesaler Bond|
|Salem Credit Repair Bonds||Salem Lost Deed Bond|
|Salem Guardianship Bond||Salem Lottery Bond|
|Salem Telemarketer Bond||Salem Lost Instrument Bond|
|Salem DMEPOS (Medicare) Bond||Salem Freight Broker Bond - BMC-84|
|Salem Utility Bond||Salem Appraisal Company Bond|
|Salem Cost Bond||Salem Credit Services Organization Bond|
|Salem Material Bond||Salem Sales Tax Bond|
|Salem Process Server Bond||Salem Supply Bond|
|Salem Lost Title Bond||Salem Warranty Bond|
|Salem Wage and Welfare Bond||Salem Fidelity Bond|
|Salem Performance Bond||Salem Auctioneer Bond|
|Salem DMV Driving School Bond||Salem Collection Agency Bond|
|Salem Pawnbroker Bond|