What is an Outdoor Advertising Bond?
Billboard advertising companies are often required to purchase a bond for outdoor advertising to guarantee to the state that they will follow all laws and regulations in regards to placement, construction, and removal of outdoor signs such as billboards. If the company fails to meet the requirements, it may be subject to fines and penalties from the state. This bond may also be called a sign permit bond or a sign contractor bond.
How much does an outdoor advertising bond cost?
Each state sets its requirements for coverage. We will base the amount of your premium on that. You will pay a small percentage of the total bond amount. We can give you a free quote when you submit your request. An agent will be able to get you an accurate quote and help you with the paperwork needed to complete the bonding process. Once payment is complete, we will get your bond documents sent to you so that you can meet your state licensing requirements for outdoor advertisers.
How does an outdoor advertising bond work?
An outdoor advertising bond works in the same way as any other surety bond. There are three entities: the principal, the obligee, and the surety.
The obligee is the state agency that requires you to purchase the outdoor advertising bond. Without this bond, you may not be able to obtain a license for your business.
The principal is the person or company that is required to obtain the outdoor advertising bond.
The surety is the bonding agency that provides the financial backing for the bond. They will be making any payments to the obligee if a claim is filed.
If the state believes that you failed to meet all of the requirements stated in the bond, they can file a claim with the surety agency. An investigation is done, and if it is found to be valid, payment is made to the obligee. You will be responsible for reimbursing the surety agency for any payments that are made from the bond.
How do I get started?
Simply request your free quote and complete the application with all of your information. We will get you an accurate quote for your state outdoor advertising bond, help you with any documents you need, and once payment is processed we will send your bond documents to you so you can get licensed right away.