Nevada
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Nevada surety bonds serve as insurance against financial loss in the state of Nevada.
A person who buys a surety bond is a principal. If that person is required by an individual or agency to get a surety bond, the individual or agency is called an obligee. The company that provides the surety bond is referred to as the surety.
Not all surety bonds are obtained as a requirement. Many people and businesses purchase business services surety bonds as a way of securing more customers. An example of this would be a contractor who gets a Nevada surety bond to instill confidence in potential clients. Customers may feel more confident about hiring a contractor who can offer the added security of bonds to back up the work being promised.
Common Nevada Surety Bonds
Nevada surety bonds serve as insurance against financial loss in the state of Nevada.
A person who buys a surety bond is a principal. If that person is required by an individual or agency to get a surety bond, the individual or agency is called an obligee. The company that provides the surety bond is referred to as the surety.
Not all surety bonds are obtained as a requirement. Many people and businesses purchase business services surety bonds as a way of securing more customers. An example of this would be a contractor who gets a Nevada surety bond to instill confidence in potential clients. Customers may feel more confident about hiring a contractor who can offer the added security of bonds to back up the work being promised.
Common Nevada Surety Bonds
Nevada Contractors License Bond
Auto Dealer Bond
Sales Tax Bond
DMEPOS Bond
Collection Agency Bond
Money Transmitter Bond
How do I purchase a Nevada surety bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue many different types of surety bonds in Nevada. We can provide the best rates for your bond, as well as the fastest issuance, to get your business off and running.
Our short online application makes it easy. Click below to start the application process today.
Nevada Surety Bond FAQs
Nevada requires surety bonds for many licensed professionals, including contractors, auto dealers, mortgage professionals, escrow agents, notaries, and money transmitters. The specific bond type and amount depend on the industry and the licensing authority involved, such as the Nevada State Contractors Board or the Department of Motor Vehicles.
The cost of a surety bond in Nevada typically ranges from 1 to 10% of the bond amount, depending on your credit score, financial history, and the bond’s risk level. For instance, a $50,000 contractors bond might cost between $500 and $2,000 annually for most applicants, though high-risk applicants may pay more.
Yes, you can still obtain a surety bond in Nevada with a low credit score. While your premium may be higher, often between 5 and 15% of the bond amount, many bonding companies offer special programs for applicants with credit challenges. Some may also ask for financial documentation or collateral for higher-risk bonds.
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