North Dakota Non-Explosive Geophysical Exploration Bond Guide
If you’re applying for an exploration permit in North Dakota, you’ll need this surety bond.
Bond Overview
- Purpose: To cover potential property damages resulting from geophysical exploration
- Who Needs It: Anyone applying for an exploration permit in North Dakota
- Regulating Body: The Industrial Commission of North Dakota, Oil and Gas Division
- Required Coverage: $25,000
- Premium Rate: $500–$2,500, credit-based
Learn all about the bond requirements and process in this guide.
What Is a North Dakota Non-Explosive Geophysical Exploration Bond?
A North Dakota non-explosive geophysical exploration bond is financial security to cover potential property damages resulting from geophysical exploration.
The Industrial Commission of North Dakota’s Oil and Gas Division requires this bond for geophysical exploration permitting agents in the state.
How Much Do Geophysical Exploration Bonds Cost?
North Dakota non-explosive geophysical exploration bonds cost a small percentage of the $25,000 coverage amount, typically $500–$2,500.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a North Dakota non-explosive geophysical exploration bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file it with the Oil and Gas Division as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a North Dakota Geophysical Exploration Bond Work?
A non-explosive geophysical exploration bond creates a legal contract between these three parties:
- Principal: You, the geophysical exploration permitting agent filing the bond
- Obligee: The Industrial Commission of North Dakota, Oil and Gas Division requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of North Dakota Century Code Section 38-08.1-04.1.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your non-explosive geophysical exploration bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.