Frequently Asked Questions
Everything you need to know about surety bonds and working with Prestige Bond Group. Cannot find your answer? Contact us at bonds@pbgbonds.com.
What is a surety bond?
A surety bond is a three-party agreement between you, the party requiring the bond, and the surety. It guarantees you will fulfill legal or contractual obligations.
How fast can I get a bond?
Most bonds are issued online within minutes of payment. Large performance and payment bonds may require one to three business days.
How much does a surety bond cost?
Most small commercial bonds cost between $100 and $500 per year. Contract bonds are typically 1% to 3% of the bond amount.
Do I need good credit to get bonded?
No. We have markets for all credit types and explore every available option.
What is a BMC-84 bond?
It is the federally required $75,000 bond for licensed freight brokers before they obtain FMCSA authority.