You’ve probably seen a truck driving down the road or a business card state “Licensed and Bonded”, right? Well what exactly does it mean to be licensed and bonded?
What Does Licensed and Bonded Mean?
Let’s break it down a little bit. First, what does it mean to be licensed? There are many types of businesses and trades that require a professional license in order to perform that particular line of work. For instance, the person that cuts your hair must be licensed. To obtain a license they must prove that they have a certain level of acumen in that line of work. They often need to pass an exam in order to obtain a license. There are all sorts of lines of work that must be licensed. Your electrician, insurance agent, real estate professional and many more all need to be licensed in order to legally perform their line of work.
Next, what does in mean to be bonded? Being bonded can mean all sorts of different things; however, generally when someone states that they are both licensed and bonded it means that they have purchased a general business services type of bond. This bond will cover their customers for any wrongdoing by the licensed professional. The amounts of the bond can vary greatly from as small as $10,000 to as large as $200,000 or more. Many business owners want to be able to provide peace of mind to their customers that they are qualified to perform their line of work and, if they don’t, that their customer can be protected.
What Do I Do If I wanted to be “Licensed and Bonded”
Getting licensed is being the scope of this post and generally needs to be handled by your local state agency. However, we can help you with the “bonded” portion! We can help you obtain a business services bond.
Business Services Bond
To obtain a Business Services Bond you just need to follow these 3 easy steps:
- Complete a simple application
- Pay the premium on the bond
- We can send your bond to you electronically and you should sign the original bond
We offer safe and secure credit card payment so it is possible for you to obtain your bond the same day
Learn More with Our Surety Bond Resources
Now that we’ve answered the question, “what does licensed and bonded mean,” you should have a better understanding of business services bond. For any questions regarding business services bonds in Texas contact Eric Schmalz at email@example.com or 512.640.6444. If you’re interested in learning more about acquiring a surety bond quote, be sure to check out these articles:
- Surety & Fidelity Association of America (SFAA) – 10 Things You Should Know About Bonding
- Small Business Administration (SBA) – Discusses bond costs and other basic characteristics of surety bonds
- Suretyinfo.org – Helping contractors grow