IS THE AMOUNT I PAY ONE TIME OR YEARLY

NANCY asked this on March 28, 2017 in Surety Bonds

IS THE AMOUNT MONTHLY OR YEARLY

Amber answered this on March 28, 2017

Hi Nancy,

When you purchase a surety bond, you pay a one-time premium. You may pay the premium yearly if your bond is only valid for a one-year term. Many bonds are valid for multiple-year terms, in which case premiums are paid upon each renewal of the surety bond. Hope this is helpful!

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