Rhode Island Surety Bonds Overview

Bryant Surety Bonds is licensed to offer all varieties of surety bonds for the state of Rhode Island. This applies to everyone, regardless of your credit score– our professionals can still help you get bonded.

We work with the best surety bond companies in the country, all of which are A-rated and T-listed. Having your bond backed by one of these companies is a guarantee of security and reliability.

If you’re ready to get your bond, simply find the one you need in the table below and follow the application link. We’ll contact you with your free quote as soon as we’ve processed your application. If you’d like to read more about Rhode Island surety bonds, the sections below the table have all the information you need. Our ‘What is a surety bond?’ page is another great resource if you want to know even more.

Call our agents anytime at (866) 450-3412 to ask questions or receive assistance.

Find the Bond You Need

The table below contains a list of only the most popular surety bonds. If you can't find yours, fill out our online application and select "Not in the list".

Collection Agency Bond State of Rhode Island Collection Agency Apply Now
Professional Fund Raisers Bond Dept of Business Regulation - Securities Div Professional Fund Raisers Apply Now
Insurance Surplus Lines Brokers Bond General Treasurer of the State of Rhode Island Surplus Lines Broker Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond Dept of Business Regulation, Division of Banking Loan Broker Apply Now
Mortgage Lender/Banker (1st & 2nd Mort.) Bond Dept of Business Regulation, Division of Banking Mortgage Lender Apply Now
Auto & Mobile Home Dealers (New & Used) Bond Division of Motor Vehicles - Dealer's License & Re Dealer's License Apply Now
Auto & Mobile Home Dealers (Used Only, No New) Bond Division of Motor Vehicles - Dealer's License & Re Dealer's License Apply Now
Health Spas/Health Clubs Bond Attorney General Office Health Club License Apply Now
Detectives Bond Town of Cumberland (Town of Cumberland) Detective Bond Apply Now
Employment Agencies Bond Dept. of Revenue, Div. of Taxation Employee Leasing Company Bond Apply Now
Professional Licenses (All Other) Bond Department of Labor and Training Burglar Alarm Business Bond Apply Now
Alcohol (Manufacturers, Warehouses, Wholesalers) Bond State of Rhode Island Dept. of Business Regulation Alcohol Beverage Bond Apply Now
Telemarketing/Phone Solicitor Bond Dept of Business Regulation Professional Solicitor or Fund Raising Counsel Apply Now
Telemarketing/Phone Solicitor Bond Dept of Attorney General, Consumer Protection Unit Telemarketer Solicitation Apply Now

Types of Rhode Island Surety Bonds

There are three different types of surety bonds you can get in Rhode Island, depending on the reason you need them:

  • License bonds must be obtained in order to license a business in the state. Not all businesses need a bond– this depends on local and federal legislation.

  • Construction bonds are needed by Rhode Island contractors who wish to participate in a bid or perform work on a construction project in the state.

  • Court bonds are, in certain cases, requested by Rhode Island appellate or probate courts of individuals

We underwrite all of these types of bonds for the state of Rhode Island. Learn more about each type of bond in the sections below.

Rhode Island License & Permit Bonds

To get a business license in Rhode Island you may need to post a license bond. Whether or not you need to post one is determined either on a state level, or sometimes on a federal level.

License bonds are meant to protect the state and your clients, by guaranteeing that you comply with state rules and regulations. If you are found to be in violation of those rules, customers may file a claim against your bond and seek to obtain compensation. Business owners should therefore carefully follow legislative updates and only adhere to best business practices.

We regularly underwrite every type of license bond in the state, with the Rhode Island auto dealer bond and contractor license bond being two of the most popular, as well as federally-mandated freight broker bonds.

Rhode Island Construction Bonds

To work on a state construction project, licensed and bonded Rhode Island contractors require construction bonds.

These bonds–sometimes called contract bonds– are a form of protection against contractors who breach their contracts or violate state and federal regulations. In other words, they protect the government, the public, and the taxpayer investments that are awarded to contractors on state or federal projects.

Popular construction bonds include bid bonds, which contractors need if they wish to bid on a project. These bonds guarantee that, if awarded, contractors will execute the project at the price they offered during the bid.

Performance and payment bonds are very important bonds, central to the construction process. They guarantee that contractors will perform work on a project as agreed in their contract, and that they will pay their subcontractors and suppliers in due time.

Rhode Island Court Bonds

Sometimes Rhode Island courts may require individuals to obtain court bonds. These bonds are applicable in cases in which an individual has been appointed a fiduciary by a court, and needs to obtain a fiduciary bond to guarantee the finances of the person they will be representing.

Supersedeas bonds, or probate bonds, are court bonds which individuals may need to post when they wish to appeal a court judgement in front of an appellate court.

Cost of Rhode Island Surety Bonds

For a rough estimate of the cost of your surety bond, try our surety bond calculator on the right.

To understand the estimate quote the calculator determines for you, you need to know how surety bond cost is determined. The cost, or premium, of your bond is determined on the basis of the total bond amount. This amount is the full penal sum, i.e., the total possible compensation that the surety can pay to a claimant.

In other words, the premium is the percentage of the bond amount that you must pay to obtain the bond. That percentage varies for each applicant, but a standard market rate is typically between 1%-4% of the total amount.

Whether you are offered a premium at a standard market rate is determined by your financial situation, and mostly by your personal credit score. Sureties consider credit score a very reliable indicator of financial stability and reliability. Other factors taken into account by sureties are:

  • Applicant business and personal financial statements
  • Applicant liquidity and asset profile
  • Applicant industry experience and work record

If your credit score is less than perfect– or if you don’t have one– you will be offered a higher rate, due to the increased risk in issuing a bond for you. This means that your rate will vary between 5%-15% of the total amount, depending on your individual case.

Our Bad Credit Surety Bond Program is the program that applicants with low credit can use to get bonded with no difficulties. We’ve designed it specifically to make bonding for such applicants easy and hassle-free, and all bonds are still backed by the same expert companies.

How to Get a Rhode Island Surety Bond

Ready to get your bond? Just fill in and submit our simple online application. We will get back to you shortly with a free quote by one of our surety partners.

Before we finalize your application and send you your bond, we may request some additional information from you. After that, we will send you your bond by mail. We can always provide you with copies via fax or e-mail, and we advise all bond holders to keep copies for their personal use.

If you need more information about Rhode Island surety bonds, simply call us at (866)-450-3412. Our surety bond experts will be happy to help.

Want to know more about surety bonds? Our Education Center contains all the information you need concerning surety bonds. Have a look!

About the author:
Todd Bryant
Todd Bryant is a graduate of Germantown Academy and the University of Pittsburgh College of Business Administration Honors College. He has been President of Bryant Surety Bonds, Inc., an A+ rated Business with the Better Business Bureau, since 2007. Licensed as a producer with the Department of Insurance, he has been published in the National Association of Surety Bond Producers newsletter and on numerous authoritative publications such as The Washington Post, Entrepreneur.com, Azcentral.com and many more.