How Do I Get a Surety Bond for Rhode Island?

Who Is Required to Have a Surety Bond in Rhode Island?

There are many reasons for needing a surety bond. Often a surety bond is a requirement for those applying for licenses and permits, to ensure financial responsibility. Surety Bonds can also be required in courts for administering an estate, or a surety bond can be required when replacing valuable lost documents, such as stock certificates.

Who Requires a Surety Bond?

Many Rhode Island state departments and agencies require a surety bond from those applying for a permit or license. These agencies include: Attorney General, Department of Administration - Division of Purchases, Department of Business Regulation - Division of Banking, Department of Environmental Management, Department of Labor and Training - Division of Workforce Regulation and Safety, Department of Revenue - Division of Taxation, Department of Treasury - Alcohol and Tobacco Tax Trade Bureau, Division of Commercial Licensing and Racing and Athletics, Division of Motor Vehicles, Office of the Health Insurance Commissioner, Office of Purchases, Probate Court, and State of Rhode Island and Providence Plantations.

In addition to the state, many municipalities, courts and private entities may have a bond requirement for purposes such as administering an estate, bidding on contracts, or replacing a lost document.

How Much Does a Surety Bond Cost in Rhode Island?

Bond amounts in Rhode Island vary by the type of bond needed and the bond amount required. The premium or cost that you pay can depend on many factors including bond type, your credit history, length of time in business, and may require personal or business financial statements. Contact our Surety Bond Specialists for a free quote for your specific surety bond needs.

Common Rhode Island Surety Bonds

There are many bonds that are required by the state for registration, license and permit, court, contract and tax purposes.SuretyGroup.com can help with all surety bonds in Rhode Island.