Washington
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Washington surety bonds are regularly required by businesses so they can offer a guarantee for their products and services.
A surety is a contract that involves three parties. It is commonly issued when a person or business is providing a service to another entity. The entity that is receiving the service may want to have assurance that the service provider will fulfill the terms of the contract as agreed upon. If the service provider fails to fulfill the required services, then the recipient of the service can seek compensation for damages by claiming the bond.
In the event that the involved principal does not adequately fulfill the terms of the contract they signed with the obligee, the obligee can make a claim against the bond for damages incurred. The surety will be the party responsible for compensating the obligee, after which the surety will seek to be repaid by the involved principal.
Common Washington Surety Bonds
Washington surety bonds are regularly required by businesses so they can offer a guarantee for their products and services.
A surety is a contract that involves three parties. It is commonly issued when a person or business is providing a service to another entity. The entity that is receiving the service may want to have assurance that the service provider will fulfill the terms of the contract as agreed upon. If the service provider fails to fulfill the required services, then the recipient of the service can seek compensation for damages by claiming the bond.
In the event that the involved principal does not adequately fulfill the terms of the contract they signed with the obligee, the obligee can make a claim against the bond for damages incurred. The surety will be the party responsible for compensating the obligee, after which the surety will seek to be repaid by the involved principal.
Common Washington Surety Bonds
Washington Contractors License Bond
Auto Dealer Bond
Auctioneer Bond
Notary Bond
Private Investigator Bond
Freight Broker (BMC-84) Bond
How do I purchase a Washington surety bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue many different types of surety bonds in Washington. 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.
Washington Surety Bond FAQs
Washington requires surety bonds for contractors, auto dealers, notaries, employment agencies, and various licensed professionals. The Department of Labor & Industries enforces many bonding requirements.
General contractors in Washington must carry a $12,000 surety bond, while specialty contractors require a $6,000 bond. Washington contractors license bonds must be kept current for license renewal.
Yes, notaries in Washington must carry a $10,000 notary bond for their four-year commission term.
Yes, but cancellation must follow the state's rules, including providing advance notice, typically 30 days, to the obligee (e.g., the licensing agency).
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