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Click ‘Get Form’ to open the Nevada Surety Bond in the editor.
Begin by filling in the 'Prepared by, recording requested by and return to' section. Enter your name, company, address, city, state, zip code, phone number, and fax number.
In the 'WHEREAS' section, input the name of the principal and their address. This identifies who is providing the bond.
Next, specify the property owner's name and provide a detailed legal description of the property being bonded. If applicable, include information about previous recordings.
Fill in the sum amount for which you are bonding and ensure it reflects 1.5 times the lienable amount as required.
Complete the execution section by signing as Principal and having your Surety Corporation's representative sign as well.
Finally, arrange for a notary public to witness and notarize your signatures to finalize the document.
Start using our platform today to easily complete your Nevada Surety Bond online for free!
Nevada surety bonds serve as insurance against financial loss in the state of Nevada. A person who buys a surety bond is a principal.
What is the main purpose of a surety bond?
Surety bonds help small businesses win contracts by providing the customer with a guarantee that the work will be completed. Many public and private contracts require surety bonds, which are offered by surety companies.
How much is a surety bond in Nevada?
A Nevada surety bond costs between $600 and $50,000. The specific bond amount required depends on the trade. For example, a collection agency bond may be required up to $60,000. A Nevada contractor bond up to $500,000 is required.
Is a surety bond in the amount of $10 000 in Nevada?
Nevada law requires all notaries to have a $10,000 notary surety bond for the duration of their commission. The Nevada notary bond protects the people of Nevada from any mistakes you might make while performing your notarial duties.
How much does it cost to get a $10,000 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.
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Nev. Admin. Code 645F.620 - Surety bonds: Action on bond
A person who brings an action on a surety bond shall notify the Commissioner in writing upon filing the action. An action may be commenced not more than 3 years
A surety bond issued to an individual must be for the minimum penal sum of $25,000 with the individual named as principal and must include any fictitious name
Nov 5, 2020 In the course of business, we are required to provide financial commitments in the form of surety bonds to third parties as a guarantee of our
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