face amouny

Kileen Rezac asked this on November 29, 2017 in Surety Bonds

How do I know what face amount to get in a surety bond?

Danielle answered this on January 25, 2018

Hello Kileen,

The obligee (entity requiring the bond) determines the amount of coverage needed for the bond. The bond amount can be set per form or on a case-by-case-basis as determined the obligee. You should contact the entity requiring to to file the bond and ask them to verify the exact type of bond they're requiring and how much coverage they expect you to file.