Installation Made Easy, Inc. (IME) Affiliate Bond
Know the important details of this surety bond below!
What is an Installation Made Easy, Inc. (IME) Affiliate Bond?
Persons who wishes to join the Installation Made Easy, Inc. (IME) Program as an affiliate are required to get this surety bond.
This surety bond will ensure that the obligations required of the affiliate will be fulfilled. In addition, the affiliate will submit to the rules of Installation Made Easy, Inc. (IME).
How does an Installation Made Easy, Inc. (IME) Affiliate Bond work?
Under the terms of this bond, the third party (Surety) becomes answerable to a second party (Obligee) for the non-compliance of the first party (Principal).
The three parties mentioned are the persons who are involved in this legal contract. The Principal is the IME affiliate, the Obligee is the Installation Made Easy, Inc. (IME), and the Surety is the party who will financially support the Principal in his or her affiliate endeavor.
When the bonded IME affiliate fails to perform the tasks in a manner stated in the bond, the IME will be eligible to file for a bond claim as payment for the damages that the IME incurred. It is the duty of the Surety to verify the legitimacy of the claim prior to settlement.
The Surety will check if the act committed by the Principal violates the terms of the bond. If there is solid evidence that the Principal has committed a violation, the Surety will settle the claim. Once the Obligee has been paid, the Principal will have to reimburse the Surety.
How much does an Installation Made Easy, Inc. (IME) Affiliate Bond cost?
The bond cost or bond premium is the fee that the IME affiliate must pay the Surety for this bond. Your bond premium will depend on your credit score.
An excellent credit score means a lower bond premium. You may still be eligible to get this bond even if you have a low credit rating. But applicants with low credit rating will have higher bond premiums because of the higher bonding risks involved.
The bond premium will start at 1.5% to 2% of the bond amount. The bond amount will vary per applicant. This will be determined by the IME.
How can I get an Installation Made Easy, Inc. (IME) Affiliate Bond?
APPLY FOR THIS IME AFFILIATE BOND – We begin the bonding process with an application. You may send your application for this bond HERE!
UNDERWRITING – Once we have received your application, an underwriter will ask you to submit the following important requirements:
- Proof of your financial capability
- Your business/job performance history
- Your credit score
In order to avoid any delay, make sure that your requirements are complete prior to submitting them.
BOND ISSUANCE – Once you have signed the indemnity agreement, we will immediately issue the surety bond and send it to you!
Get bonded! APPLY HERE!