Underwriting & Surety Bonds: Not Always Necessary
July 14, 2009 4:59 am BusinessMost surety bond applications go immediately into an underwriting process once the application has been submitted. For many business owners who are required by law to have a surety bond in place, this can be a point of stress… when there is a deadline in place by which a surety bond must be issued, delays that can occur during the underwriting process can certainly cause a few sleepless nights for the person needing to get the bond.
There are, however, certain bonds that do not require an approval process. These bonds can be purchased and issued the same day, without any sort of underwriting or credit checks. A notary bond, which is the bond that all notary publics are required to have, is an example of one of these same day bonds.