Workers Compensation Surety Bond - Oregon 2026

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The document is a surety bond issued by the State of Oregon's Department of Consumer and Business Services, Workers’ Compensation Division. It outlines the obligations of the Principal and Surety to ensure payment of workers' compensation claims and related assessments for self-insured employers in Oregon. The bond guarantees that if any Covered Entity fails to meet its financial obligations under the Workers’ Compensation Law, the Surety will cover those liabilities. The document details conditions, liabilities, and procedures for enforcement and termination of the bond.

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How to use or fill out Workers Compensation Surety Bond - Oregon

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Click ‘Get Form’ to open it in the editor.
Begin by entering the bond number at the top of the form. This is essential for tracking and reference.
Fill in the Principal's name and headquarters city. Ensure accuracy as this identifies who is responsible under the bond.
Next, input the Surety’s name and confirm that it is a corporation authorized to transact surety business in Oregon.
Specify the penal sum amount in dollars, which represents the maximum liability under this bond.
Review and complete all sections regarding obligations, ensuring you understand each condition outlined in the document.
Finally, gather signatures from all required parties, including Principal and Surety representatives, along with their titles and dates.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How difficult is it to get a surety bond?

Workers compensation bonds are a type of financial guarantee surety bond. It provides a form of guarantee that any workers compensation payments due employees will be paid.

How to obtain a surety bond in Oregon?

Is Everyone Eligible for a Surety Bond? No, not everyone is eligible for a surety bond. Being eligible for a surety bond typically depends upon two important things: whether claims have been made against your past bonds and your credit history.

Is a surety bond worth it?

Advantages of Commercial Surety Bonds Financial Protection: A key benefit to this type of bond is the financial protection it provides. If a party fails to fulfill its obligations, the surety bond ensures that the other party will be compensated for any losses incurred.

Are surety bonds easy to get?

No, not everyone is eligible for a surety bond. Being eligible for a surety bond typically depends upon two important things: whether claims have been made against your past bonds and your credit history.

What credit score do you need for a surety bond?

Most surety companies will only write your bond if you have good credit. If you have a FICO score of 650 or higher, you are considered a low risk. The best terms and rates should be available to you.

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What is the average cost of a surety bond?

The cost of a surety bond is calculated as a small percentage of the total bond coverage amount typically 0.510%. This means a $10,000 bond policy may cost between $50 and $1,000. For applicants with strong credit, most bond rates are 0.54% of the bond amount.

Workers Compensation Surety Bond - Oregon 2026

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