South Carolina Business Service Bond
What is a Business Service Bond and what are its benefits?
This type of surety bond will protect both your business and your clients. Misconducts committed by employees are more common than you may have perceived them to be. When this happens, you and your client will be financially compensated through the surety bond!
Other benefits of a business service bond:
- Improve your business’ competitive advantage
- Serve as a marketing tool. By having a Business Service Bond, you are guaranteeing that your employees are dependable and will provide great service.
- Diminish the risk of business failure especially for resource-strapped startups
- Lower the perceived uncertainty that the customers might have. Having a stranger in your home is quite unnerving. Many what-ifs may occur inside a customer’s mind. You can calm those by letting your potential customers know that they are eligible for monetary claims if an unfortunate incident happens.
What is the South Carolina Business Service Bond amount?
This will depend on the number of your employees and how much you want the bond amount to be. The starting bond amount is $2,500, and the maximum bond amount is $100,000.
Your bond premium will depend on your credit score. Those who have an excellent credit score will be able to pay as little as 1% of the bond amount!
How can I get a South Carolina Business Service Bond?
To secure this type of bond, the Principal (business owner) must seek the assistance of a surety bond company.
You will be asked to apply for this bond. If you’re ready to apply for one right now, you may easily do so HERE!
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate the following:
- Your financial strength
- Your job/business performance history
- Your credit score
Once the prequalification process is fulfilled, we will execute the bond and send it to you!
Who should get this surety bond?
Any type of business services, especially those that provide home service such as the following:
- Handyman services
- Home-Improvement services
- Landscaping & lawn management services
- Maintenance services
- Cleaning services
- Plant maintenance services
- Plumbing services
- Swimming pool services
- Property inspection services