Arkansas Surety Bond Types

Arkansas requires a variety of industries to hold a bond in order to do business in the state (though the bond values and costs vary widely due to the differing risk factors and levels of each one). For instance, businesses who sell alcohol in Arkansas are required to have a surety bond to ensure that any money collected from the sales tax on alcohol will go back to the state. If a business is found to have withheld tax money from the state or locality, a claim is filed on the bond and, should the claim be found valid, the business will be required to pay up to the full face value of the bond to the state.

Arkansas Surety Bond Requirements

Arkansas also requires mortgage brokers to take out mortgage broker bonds before providing loans to consumers. The mortgage broker bond protects lenders and potential lenders against predatory loan practices and other unethical behavior on the part of the broker. The amount of the mortgage broker bond depends on the volume and amount of loans the broker provides on an annual basis. In this case, most claims are due to the consumer wronged by broker and not the state.

Regardless of the type of bond you need in Arkansas we can take care of all the work for you. Just contact a surety specialist or fill out the form to your right to get the process started.