Surety bonds are available in all sorts of forms, including difficult-to-place accounts such as customers with poor credit, environmental or hazardous bonds, and high-limit fidelity bonds, among others.
Insurance Broker Bonds
Insurance agents that offer insurance products as a broker must file an insurance broker bond with the North Carolina Department of Insurance.
Contractor License Bonds
Irrigation and landscape contractors are required to post a bond in order to be licensed by the state. In addition, for an intermediate license and an unrestricted license, electrical contractors must submit a statement of bondability. Some municipal governments also need licensure and bonding in order to receive county permits.
Financial Services Bonds
Financial services, including Mortgage Brokers, Mortgage Lenders, and Loan Brokers, are required to provide proof of surety bond coverage.
Miscellaneous Business Bonds
Other businesses outside of the categories listed require surety bonds, including Lottery Sales, Tobacco Sales, and Combat Sports Promoter Agents.
Motor Vehicle Dealer Bonds
All motor vehicle dealers must purchase a surety bond in North Carolina. For auto dealers with more than one location, an additional surety bond is required for each additional location.
Collection Agency Bonds
Collection agencies must purchase surety bond coverage to legally operate. There are different types of Collection Agency Bonds, depending on the origination of the business owner.