Some other examples of bonds that are available to businesses in other industries include:
- ARC Bonds: Usually guarantee that payments collected by travel agencies are properly forwarded to the correct airlines
- Fuel Tax Bonds: Usually guarantee that gas stations and fuel delivery companies properly remit taxes
- Liquor Bonds: Usually guarantee compliance with both federal and state laws that govern the sale, manufacturing or storing of alcohol
- License/Permit Bonds: Usually guarantee that professionals will abide by local, municipal regulations
- Lottery Bonds: Usually guarantee the proper use of lottery machines that sell state lottery tickets
- Notary Public Bonds: Usually protects against improper notary actions that result in substantial losses
- Mortgage Broker Bonds: Usually guarantee compliance with state laws and the mortgage broker license code
- Warehouse Bonds: Usually guarantee the safe delivery of stored goods upon the presentation of a receipt
- Utility Bonds: Usually guarantee full payment of correct utility bills
Because business bonds are so specialized, businesses should work closely with an insurance agent who knows these bonds well. A knowledgeable agent will be able to steer businesses toward the bonds that are right for their industry and situation.
How much are the rates for bonds?
Rates for these bonds vary significantly. The protections that a bond provides, its limits and deductibles, and other factors commonly influence the cost. Even with variance among rates, however, bonds tend to provide a lot of coverage in light of their cost.
How can Vermont businesses get Commercial bonds?
For assistance with commercial bonds, contact the independent insurance agents at Paige & Campbell Insurance. Our agents have helped many businesses in Vermont get the bonds that they need, and we have the expertise necessary to assist your business too.