License & Permit bonds
License & Permit bonds are a type of surety bond, sometimes referred to as ‘Commercial Bonds’ or simply ‘License Bonds’. Whatever you call them, License & Permit bonds are required by government agencies as a pre-licensing requirement for a number of different businesses. A License and Permit bond guarantees that a business will operate in accordance with federal, state, or local laws and regulations. Each License bond is specific to an industry and protects consumers and/or the governmental agency from damages. Most commonly, License & Permit bonds protect governments and consumers from fraudulent practices committed by the business operating in that jurisdiction. In many industries that require these bonds a license can not be granted until a bond is received.
These types of bonds vary greatly as far as their underwriting requirements and various pricing models. AllStates Bonding is an established and long time issuer of Commercial Bonds including License & Permit Bonds in all 50 states. Please reach out to one of our specialists at 877-388-2663 (BOND) to discuss your Commercial Surety Bond needs.