Surety bonds in Michigan
Michigan’s automotive, manufacturing, and construction sectors drive many surety bond requirements. A surety bond protects the obligee and the public — if a valid claim is paid, the bonded Michigan business generally reimburses the surety, so it is not insurance for the business.
Bonds commonly required in Michigan
Builder / Contractor License Bond
Some Michigan localities require builders or contractors to post a bond as a condition of permitting.
Motor Vehicle Dealer Bond
Dealers are commonly required to carry a bond meant to address certain sales and title issues.
Notary Public Bond
Where required, a notary bond helps protect the public from notarial errors or misconduct.
Freight Broker Bond
Property brokers arranging freight may need a federally tied bond protecting carriers and shippers.
Performance & Payment Bonds
Public construction often requires these bonds to assure completion and payment.
Confirm the precise requirement with the obligee or licensing authority, then get a quote to compare costs.
A surety bond protects the party requiring it (the obligee) and the public — it is not insurance for your business. If a claim is paid, the principal generally repays the surety. Bond requirements and amounts are set by the obligee and vary by license type and jurisdiction. Verify the exact requirement before you buy.
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