Wisconsin
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Wisconsin surety bonds have become a regular requirement in the service, construction, transportation and motor vehicle industries.
A surety bond is a contract, and typically, three parties are involved with such a contract. The first party is the surety, which is the brokerage that supplies the bond. The second party is the principal, which is the business or individual applying for and purchasing the bond. The third party is the entity or individual requiring the principal to get the bond. This third party is known as an obligee. The bond is used to insure the obligee, in the event that the obligee suffers a financial loss because of negligence or wrongdoing on the part of the principal.
Some of the most common bonds are purchased by professionals and businesses. A business or professional might need a bond to remain compliant with industry standards, as well as to provide insurance against loss to clients, vendors, contractors, employees, or an employer.
Common Wisconsin Surety Bonds
Wisconsin surety bonds have become a regular requirement in the service, construction, transportation and motor vehicle industries.
A surety bond is a contract, and typically, three parties are involved with such a contract. The first party is the surety, which is the brokerage that supplies the bond. The second party is the principal, which is the business or individual applying for and purchasing the bond. The third party is the entity or individual requiring the principal to get the bond. This third party is known as an obligee. The bond is used to insure the obligee, in the event that the obligee suffers a financial loss because of negligence or wrongdoing on the part of the principal.
Some of the most common bonds are purchased by professionals and businesses. A business or professional might need a bond to remain compliant with industry standards, as well as to provide insurance against loss to clients, vendors, contractors, employees, or an employer.
Common Wisconsin Surety Bonds
Auto Dealer Bond
Contractors Bond
Public Adjuster Bond
Notary Bond
Collection Agency Bond
School Bond
How do I purchase a Wisconsin surety bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue many different types of surety bonds in Wisconsin. 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.
Wisconsin Surety Bond FAQs
Wisconsin requires surety bonds for auto dealers, mortgage professionals, notaries, collection agencies, and contractors working on public projects. Certain license renewals may also trigger bonding requirements.
Wisconsin notaries must carry a $500 surety bond. The cost of a notary bond is very low, typically under $20 for a four-year term.
Contractors bonds are not generally required statewide, but may be necessary in specific municipalities or for public works projects.
Yes. Maintaining a clean claims history and improving your credit can help reduce your bond premiums at renewal.
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