Installation Made Easy Inc (IME) IME Affiliate Bond
What is the Installation Made Easy Inc (IME) IME Affiliate Bond?
The Installation Made Easy Inc (IME) IME affiliate bond ensures that the Principal will be able to pay for any licensing violations that will potentially require legal compensation. It is typically used if the principal (business or individuals) will avail of the company’s flooring installation services. The surety bond company will also be responsible for reviewing claims from the public to see if it is valid for compensation.
Why do you need the Installation Made Easy Inc (IME) IME Affiliate Bond?
The bond is a pre-requisite in securing the proper licenses prior the formal operations of businesses or individual that will be an affiliate of Installation Made Easy Inc. This bond also helps the state ensure the proper regulation of the industry.
In addition to the legal compliance, applicants will also reap the following benefits:
- Your financial security is secured and your credibility is boosted
- Your full line of credit is secured and available for use
- The confidentiality of your activities (unless requested by proper authorities)
- You have access to professional advice or counseling from lawyers, estimators, and similar and related professionals
How does the Installation Made Easy Inc (IME) IME Affiliate Bond work?
The parties in the agreement are the Principal (licensee), Obligee (Installation Made Easy Inc), and Bond Company or Obligor (surety bond carrier). The bond must be filed with the Installation Made Easy Inc and must be issued by a surety bond provider certified by the state’s Insurance Department.
The Surety Company will guarantee the compensation (performance bond) of the Obligee in case the Principal fails to deliver agreed upon services or violate any licensing provisions. The Surety Company will receive and assess the validity of all public claims where claims may only amount to the total penal sum arranged in the bond form. The Principal will then reimburse all expenses covered by the Bond Company, including all premiums imposed by the surety carrier.
How much does it cost?
The Installation Made Easy Inc (IME) IME affiliate bond will normally have a premium rate between 1.5% and 12.0% of the bond amount, with the latter being the worst rate you can get. The cost of it will depend on the individual’s/business’ credit score, industry experience, business history, and the surety provider’s background.
How can I secure the bond?
Transact with a reputable surety company today and secure your Installation Made Easy Inc (IME) IME Affiliate Bond the fast and easy way. If you have more questions or are in need of more information, get in touch with us today!
Make sure you have gathered and provided accurate information on the following for the speedy processing of your application:
- Nature of your business
- Credit Score
- Financial strength
Rest assured our expert surety bond agent will guide you from the time of your application until the issuance of your bond. Once the assessment is done, we will promptly issue your bond and send it your way!