Glossary of Business Credit Terms

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

License and Permit Bonds

What is a license and permit bond?

License and permit bonds are usually a prerequisite by the state or other ruling jurisdiction to be acquired by business owners in specific industry before they are legally licensed. This type of commercial bonds provides guarantee that the business will operate in accordance with the government laws

This refrains the business owners from committing any fraudulent practices. Hence, providing protection to both – the customer and the government.

Types of license and permit bonds?

These types of surety bonds are the most extensive as they cover many different industries. Some of the most popular type of license and permit bonds are:

  • Alcohol tax bond
  • Auctioneer bond
  • Auto dealer bond
  • Collection agency bond
  • Fishing license bond
  • Health club bond
  • Insurance broker bond
  • Mortgage broker bond
  • Private school bond
  • Sign license bond
  • Telemarketing bond
  • Travel agency bond
  • Used car dealer bond

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