Surety bonds in Minnesota
In Minnesota, construction, agriculture, and a strong commercial base mean surety bonds appear often at licensing. The bond protects the public and the obligee; the bonded Minnesota business is ultimately responsible for repaying any paid claim.
Bonds commonly required in Minnesota
Residential Contractor Bond
Certain Minnesota residential contractors may be required to post a bond protecting consumers.
Motor Vehicle Dealer Bond
Dealers commonly carry a bond intended to protect buyers and the state.
Notary Public Bond
Where applicable, a notary bond supports the public’s reliance on properly performed notarial acts.
Mortgage / Lending Bond
Mortgage and lending licensees may be required to maintain a surety bond.
Performance & Payment Bonds
Public projects in Minnesota frequently require these bonds to assure completion and payment.
Verify the exact bond and amount with the obligee or your Minnesota licensing board, then request a quote.
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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