Several factors impact the cost of a surety bond. One of these factors is the amount of risk associated with the specific bond type. Lower-risk bonds, like notary bonds, are issued instantly without a credit check for a low, flat rate. Higher-risk bonds, like transient merchant bonds, on the other hand are subject to underwriting consideration.
Standard market rates for underwriting-based bonds range from just 1-3% of the bond amount. For example, a $25,000 bond would cost just $250 to $750 provided the applicant qualifies for a standard market.
The best way to determine the exact cost of your surety bond in North Dakota is to consult a surety expert. You can request your free quote online instantly, or give us a call at 1 (800) 308-4358 to speak with one of our experienced bond specialists. We’ll work with you to get the bond you need for the lowest available rate.