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The Most Common Surety Bonds in Nevada

November 29, 2021

surety bonds - What is a Nevada Contractor License Bond - view from the top of a building

What is a Nevada Contractor License Bond?

A Nevada Contractor License Bond is a surety bond required by the State of Nevada to make sure that all contractors who work in the state follow the rules and regulations set forth by the state. Once you are presented with this contract, you must comply with every rule or regulation within 30 days. Failure to do so will result in criminal charges against you, not your company's license (which is why the company needs to file).

The most common contractor license bonds in Nevada cost $15,000. This amount is determined per person, meaning if they have 2 employees it will be $30,000. The price may fluctuate depending on how many future employees they plan to have and for what period of time.

This means that there are companies out there willing to take up the risk in exchange for a fee from you and your company. The fees charged will range from $100-$15,000 depending on many factors including time of year, the overall value of your contract, and if and how much business you've done with that company (if any).

What is a Nevada Document Preparation Service or Legal Document Assistant Bond?

This type of bond is required by the State of Nevada to make sure that everyone who acts as an agent of a document preparer or works at a document preparation service company, follows all state rules and regulations.

The most common Document Preparation Service bonds in Nevada cost $15,000. This amount is determined per person meaning if they have 2 employees it will be $30,000. The price may fluctuate depending on how many future employees they plan to have and for what period of time.

What is a Nevada Insurance Adjuster Bond?

A bond is required by the state of Nevada that states you (or your company) will follow all laws and regulations set forth by the State of Nevada. If you or anyone working for your company violate any regulation, the person who posted this surety bond has to pay up to $15,000 per violation. 

They are also required to post this bond if they want to be an insurance adjuster in the state of Nevada. The most common type of Insurance Adjuster bonds in Nevada cost $15,000. This amount is determined per person meaning if they have 2 employees it will be $30,000. The price may fluctuate depending on how many future employees they plan to have and for what period of time.

The bond is good before the state, meaning any fourth party can use it as a source of payment instead of you. They will contact the surety company who will then check if you have a valid Nevada License and if so, settle with them directly.

This means that there are companies out there willing to take up the risk in exchange for a fee from you and your company. The fees charged will range from $50-$15,000 depending on many factors including time of year, the overall value of your contract, and if and how much business you've done with that company (if any).

What is a Nevada Motor Vehicle Dealer Bond?

A bond is required by the State of Nevada to make sure that all dealerships that sell motor vehicles follow the rules and regulations set forth by the state. This means that there are companies out there willing to take up the risk in exchange for a fee from you and your company. 

The fees charged will range from $50-$15,000 depending on many factors including time of year, the overall value of your contract, and if and how much business you've done with that company (if any).

What is a Durable Medical Equipment Provider or Supplier (DMEPOS) Bond?

Whether you are opening a medical equipment store or looking to open your doors as a supplier, this bond is likely the most common surety bond you will encounter in Nevada. Keep in mind that when applying for this type of surety bond you must have already applied for and received your state license.

The DMEPOS bond protects consumers who purchase medical devices for home use from fraudulent suppliers who carry no insurance or assets. It typically requires a three million dollar minimum aggregate requirement, depending on the size of the population in the area where you do business. This Nevada DMEPOS bond can be passed along to both current and future customers, so it's important to know exactly what goods are being sold under this name.

What is a Nevada Medical Marijuana Dispensary Bond?

If you are looking to do business as a medical marijuana dispensary in Nevada, you will be required to purchase the standard Nevada Surety bond as well as this additional form. In order to qualify for your license, this requirement must be fulfilled. The surety bond protects against trust fund shortages and acts as an indicator of good character since it requires financial accountability from those who run a licensed dispensary facility.

What is a Nevada Notary Bond?

As a notary in Nevada, you are required to take out a surety bond that protects the public from wrongdoing. Since this duty is one of the most important tasks you will ever be given, it's imperative to take things seriously and make sure to carry your bond with you at all times. Notaries must have their bond placed within 90 days of taking office. 

If you fail to complete these steps, or if there is any misconduct connected with your position as a notary, your license could be revoked without warning. Keep in mind that this surety bond can also be used by other jurisdictions where you are acting as an agent for another person or financial institution.

To know more about surety bonds, visit Axcess Surety now!

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