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Surety Bonding

The World of Surety Bonding

How your Credit Score (FICO) Impacts your Ability to Secure a Bond

The credit score of a firm's principal(s) is a key factor in the bonding submission and approval process as it is considered to represent the creditworthiness of an individual and his/her likeliness to pay off debt. A high credit score is considered to reflect stability and good financial management whereas a low credit score may indicate financial issues and often raise "red flags" for the surety company.

On a scale of 300 to 850 (850 being the highest possible score), surety companies usually seek a credit score of 650 or higher as a good indicator of bondability. However, a surety will give consideration to an application or request for bonding and may approve bonding with a credit score of less than 650 if it does not include tax liens, bankruptcies, delinquent child support payments and/or other serious judgments.