Bond amounts are almost always set by the entity requiring a bond (formally known as the "obligee"). Clients unsure what bond amount they need should contact their obligee before submitting payment for their surety bond.
Bond amounts typically fall into one of two categories.
- Fixed Bond Amounts, where the bond amount displayed on the form is always the same for all clients.
- Ranged Bond Amounts, where the bond amount displayed on the bond form varies depending on the client's license type, business volume, vehicle value, scope of obligation, etc.
If you purchase a bond with an incorrect amount, the obligee will reject it, which will delay the bond filing process. Sometimes bond amounts can be changed after the original bond has been issued, but bond amount change requests are reviewed and approved at the sole discretion of the surety company. Additionally, each surety company has its own terms and conditions for cancellations, refunds, and account credits, which can never be guaranteed.
Once you know your needed bond amount, you can submit your surety bond request online 24/7 or call our team at 1 (800) 305-4358 to discuss your bonding needs further. Our representatives are always happy to answer any questions you might have.