What is a Surety Bond? [& how does it work?]

What is a surety bond? A surety bond is a contract, a guarantee.
There are many different types of surety bonds. All surety bonds are essentially a contract that promises you will complete or fulfill a duty.
When you get a surety bond, one of two things will happen:
1. You complete your duties and nothing further happens with the bond (because the bond is fulfilled)
2. You fail to complete your duties and someone can make a claim against your bond.
You can learn more here: blog.suretysolu...
UPDATE: At 0:58 we say that if you are a car dealer, you are required to deal vehicles ethically and honestly. While it is great to be ethical and honest, the surety bond is actually only concerned with your ability to follow the rules and regulations of your license.
You can learn about the surety bond claim process in our other video.
If you have questions about what surety bond you need, or what your obligations are, leave us a comment in the comment section.
You can also call us (Surety Solutions) at 866-722-9239. You'll know you've reached the right number if we are super happy and ready to help you determine what kind of bond you need.