Tennessee Chancery Court Clerk and Master Bond The Chancery Court Clerk & Master is required by the state of Tennessee Secretary of State. This Bond ensures the general public the individuals elected will perform their duties fully and faithfully by upholding high ethical and moral standards. This Bond also ensures the principal will comply with all local and state laws.
Tennessee Public Automobile Auction Bond ($50,000) In the State of Tennessee a Surety Bond is required, by the Tennessee Motor Vehicle Commission for any person(s) engaging in the business of buying, auctioning, selling, offering, or displaying motor vehicles for sale. This Bond guarantees that the applicant (Principal) will faithfully perform their duties in accordance with the law and will save harmless the State of Tennessee for any losses incurred.
Tennessee-City of Knoxville-Plumbing Contractor Bond ($10,000) The City of Knoxville Plumbing Contractor Surety Bond is required by the City of Knoxville, Tennessee. The Bond amount (Penalty) required for this Bond is $10,000. This Bond indicates the principal has applied for a license to do business as a plumber in the City of Knoxville, Tennessee. Therefore the principal will be expected to faithfully abide by all rules and regulations of the City of Knoxville and all permits for work issued to the principal. The principal will also be expected to comply with all local and state laws.
Tennessee Trustee or Appointed Persons For Veterans This Bond ensures the Trustee, or appointed persons, for Veterans or incompetent members of the Armed Services, shall perform faithfully all duties and such Federal Fiduciary according to the law.
Tennessee Long Term Care Facilities Resident Fund Bond The Long Term Care Facilities Resident Fund Surety Bond is available in the State of Tennessee. This Bond is designed to protect long term care facility residents by requiring the principal to faithfully and properly account for those funds in a fiduciary capacity according to Tennessee Code. The principal will also be required to comply with all local and state laws.
Tennessee Probate Administrator Bond An Administrator is a person appointed by a court to manage and distribute the estate of someone who has died without a will. The Administrator Bond ensures that the Administrator will faithfully and diligently administer the assets involved in litigation. The Bond protects against possible fraud or embezzlement by the Administrator.
Tennessee Certified Public Weigher ($5,000) In the State of Tennessee a Surety Bond is required, by the Tennessee Department of Agriculture, for any person(s) appointed as a Certified Public Weigher in the State of Tennessee. This Bond guarantees that the applicant (Principal) will faithfully perform their duties in accordance with the law.
Surety Bond
Tennessee Contractor Bond – Memphis & Shelby County ($25,000) Contractor License Bond – Contractors are required to post a license or permit Bond before they can legally do business in Memphis and or Shelby County Tennessee. License and permit Bonds in Tennessee are issued as per the requirements in the State of Florida to make sure that someone performs business properly.
Tennessee Motor Vehicle Dealer Bond ($50,000) The Tennessee Motor Vehicle Commission requires motor vehicle dealers obtain this $50,000 Surety Bond for the license period for protection of any person who suffers loss because of either: A) Nonpayment by the dealer of a retail customer’s prepaid title, registration other related fees or taxes. B) The dealer’s failure to deliver in conjunction with the sale of a vehicle a valid vehicle title certificate free and clear of any prior owner’s interests and all liens except a lien created by or expressly assumed in writing by the buyer of the vehicle.
Tennessee Modular Home Installer ($25,000) The Installer of Modular Building Surety Bond is required by the State of Tennessee Commissioner of the Department of Commerce and Insurance. The Bond amount (Penalty) required is $25,000. This Bond is designed to protect anyone who might suffer loss or damage from negligence of the Tennessee Modular Building Act. The principal will also be expected to comply with all local and state laws.
Tennessee Local Education Agency Fiscal Agent Bond The Local Education Agency Fiscal Agent Bond is required by the state of Tennessee Secretary of State. This Bond ensures the general public the individuals elected will perform their duties fully and faithfully by upholding high ethical and moral standards. This Bond also ensures the principal will comply with all local and state laws.
Surety bonds are an essential part of many industries, including construction, finance, and transportation. In Tennessee, surety bonds play a crucial role in ensuring that businesses and individuals fulfill their obligations and protect the interests of the public. However, understanding the intricacies of Tennessee surety bonds can be challenging. In this comprehensive guide, we will explore the basics of surety bonds, the different types of surety bonds available in Tennessee, and the process of obtaining a surety bond. Whether you are a business owner, contractor, or individual looking to obtain a surety bond, this guide will provide you with the knowledge you need to navigate the world of Tennessee surety bonds.
The types of surety bonds available in Tennessee depend on the industry and the purpose of the bond. The most common types of surety bonds are contract surety bonds, commercial surety bonds, and fiduciary surety bonds. Contract surety bonds are typically used in the construction industry and guarantee that a contractor will fulfill their obligations under a contract. Commercial surety bonds are used to protect consumers from fraudulent or dishonest business practices and can be required by state or local agencies. Fiduciary surety bonds are used in the estate and financial industries and guarantee that a fiduciary will manage funds and assets in a responsible manner.
The process of obtaining a surety bond in Tennessee begins by finding an experienced and reputable surety bond agent. A surety bond agent will be able to provide the necessary information about the requirements for the bond and the cost of the bond. They will also provide the necessary paperwork to complete the application process. Once the paperwork is completed, the agent will submit the application to the surety company. The surety company will review the application and determine the amount of the bond and the premium that needs to be paid. Once the premium is paid, the surety company will issue the bond and provide the necessary documentation.
Understanding Tennessee surety bonds is essential for anyone involved in industries that require bonding. By familiarizing yourself with the different types of surety bonds available in Tennessee and the process of obtaining a surety bond, you can ensure compliance with legal requirements and protect your interests. Whether you are a business owner, contractor, or individual, this comprehensive guide has provided you with the knowledge and resources to navigate the world of Tennessee surety bonds effectively.
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