Let’s face it; there is always an element of risk present in every business transaction. That said, some ventures are riskier than others.
Whatever state you’re in, if you’re running or planning to put up a business in the sales, service, manufacturing, or product distribution industry, you’ll need a license and permit bond to obtain a legal license and operate.
Yes, you can’t get a license without a permit bond. And as operating a business without a license is illegal, not getting one puts you at risk of facing criminal and financial charges.
The government has special requirements in place for these types of businesses to guard the interest of the public against fraud, incompetence, physical damage, and bodily harm above all else.
A license and permit bond insurance exists to protect the consumers and provide them with recourse in case something goes wrong or if you fail to comply with the laws that govern your profession.
In a way, a permit surety bond gives your business credibility and validates its legitimacy. It somehow guarantees the public that you will conform to the codes and laws applicable to your field and that you will take responsibility for the mistakes and damages traced back to your business.
Should you find yourself in need of a permit bond or any other type of surety bonding service, our professionals here at Bennett and Porter are ready to help. Together, we will find the right license and permit bond insurance for your business.
For questions and more information, feel free to connect with our bonding experts anytime!