What does the process of obtaining a surety bond consist of?

Question

I'm needing to obtain a surety bond in order to franchise with a very well known acting union. I'm just needing to know the process and whatever you can share. Thanks in advance!

Answer 1

You simply head to a local insurance agent and start one. Only should cost you about $100 year, give or take some, unless the franchise you are dealing with requires more of the surety, but I doubt it.

A surety bond is simply an additional insurance policy (which I think is a joke, but we MUST do it) that covers your business in a little way. Why is it needed is something I would like to know but I am guessing in the business world it is considered that a business with a surety is more trustable and liable.

Once you get your surety, be aware that other offers may come in the mail for surety as well so pay attention to not buy something you already have. Some insurance companies prey on those who don't pay attention to their paper work closely.

Deal with an agent IN YOUR TOWN only so you can show up and ask them questions any old time you feel like it!!

Good luck and Happy Sunday!

: )