SFAA Promotes the Value of License Bonds as Federal and State Governments Explore Occupational Licensing Reform
A Government Leader's Guide to Bonds: Commercial Surety Bonds - Holding Businesses Accountable
Among other things, commercial surety bonds can be required for licensing and permitting companies to conduct business in a state or locality. Requiring commercial surety bonds as a condition of licensing or permitting protects consumers by giving public agencies added assurance that a company operating within their jurisdiction will comply with state and local laws and regulations.
License Bonds - The Basics
A business takes few actions today without governmental permit or approval. Licenses and permits are granted every day to contractors, installers, peddlers, plumbers and a wide variety of service providers. Many of these government permits are granted only after the business posts a bond guaranteeing compliance with laws, ordinances and regulations. A license bond protects the consumers against a job that is faulty or substandard due to the actions of a license or permit holder.
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