Surety Bond Education

Surety Bond Education

Over Axle and Over Gross Weight Tolerance Permit Bond

Over Axle and Over Gross Weight Tolerance Permit Bond

In order to obtain an annual Over Gross Axle and Over Gross Weight Tolerance Permit in Texas you must first obtain a permit bond.  In this quick article we will tell you what this permit bond is, how to obtain the bond and how much it costs. What Is An Over Axle and Over Gross Weight Tolerance Permit Bond? This permit bond guarantees to the Texas Department of Transportation that you will pay for any damage that you cause to the highways on which you travel.  This bond covers an annual period but can also cover up to two or […]
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Motor Fuel Tax Bond

Motor Fuel Tax Bond

In many states there is a requirement that the suppliers or permissive suppliers of motor fuels must collect taxes.  In the state of Texas, the Comptroller of Public Accounts requires that the suppliers, permission suppliers, distributors, exporters, importers and blenders of fuel to collect and remit tax.  Sometimes a surety bond or other security must be provided.  The bond guarantees the payment of all tax liability, penalties, interest and other costs. How Do I Obtain A Motor Fuel Tax Bond? The requirements for a Motor Fuel Tax Bond vary from state to state.  However, it is common for the following […]
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Business Succession Planning & Bonding

Business Succession Planning & Bonding

When planning any business venture, it is important to think with the end in mind. Considering your exit strategy does not mean you are not committed to your business. It shows you care about the business and brand you have created living on into the future after you have decided to cease involvement or are unable to continue in day-to-day operations. Business Continuity Many construction companies are closely held family businesses, often with ownership residing with one or two founding members. In my experience, continuity discussions can be challenging primarily due to the daily demands of running of the company […]
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Texas Notary Bond

Texas Notary Bond

In order to become a Notary Public in the state of Texas you must provide a $10,000.00 Notary Bond. What Is The Purpose Of A Notary Bond? A Texas Notary Bond protects the public from a notary public that does not up perform their duties honestly and appropriately.  An individual harmed by a notary may file a claim on the $10,000 Texas Notary Bond to be made whole.  A Texas Notary Bond is effective for 4 years and follows the term of your notary commission. How Do I Obtain A Notary Bond? There are 3 easy steps to obtaining a […]
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City of Austin Fiscal Surety Bond

City of Austin Fiscal Surety Bond

If you are a developer or contractor doing work in the City of Austin, Texas you may need a “Fiscal Surety” bond.  This Fiscal Surety Bond could relate to a site plan or a subdivision.  Posting a Fiscal Surety Bond is one way to meet the requirements for Fiscal Surety with the City of Austin. What Is a Fiscal Surety Bond? A City of Austin Fiscal Surety Bond is a surety bond that guarantees that all construction and improvements made to City of Austin infrastructure will be completed.  In the surety industry, we refer to these types of bonds as […]
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Oversize Permit Bond For Cities And Counties

Oversize Permit Bond For Cities And Counties

Many cities and counties require a permit bond related to a permit obtained when a vehicle will be used on their roadways that is over the weight limit.  This is referred to an Oversize Permit Bond or also a Superheavy Permit bond. What Is An Oversize Permit Bond? An oversize permit bond is a guarantee provided to the City or County. It is a guarantee for any damage to their infrastructure while operating your over weight equipment.  The amount of the bond varies; however, they are typically $10,000 to $50,000. How Do I Obtain This Permit Bond? The application process […]
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