Wyoming Surety Bonds

Wyoming Surety Bond Overview

If you want to start a business in Wyoming you will likely need to apply for a business license. In the process of your application, you may be asked to obtain a surety bond. Alternatively, if you are a contractor and want to perform work on a project in Wyoming, you may also need to get a bond.

Why do I need a bond?

Bonds are agreements under which the bonded party (the bond principal) agrees to comply with various state laws and regulations. If the principal violates the agreement and thereby causes losses to the public, any particular individual or the state, these may file a claim against the bond. The surety that backs the bond will then investigate the issue and back claimants for as much as the full amount of the bond.

Do you know the name of the Wyoming surety bond you need? You can directly submit your application by finding your bond in the table below.

If you need more information about surety bonds, consult the sections further below. Our “What is a Surety Bond?” page is another resource you shouldn’t miss.

If you need additional help, feel free to contact our surety bond agents at 866.450.3412.

Types of Wyoming Surety Bonds

Based on their purpose, surety bonds can be separated into three different categories:

• License bonds – mandatory as part of the license applications for a number of businesses in Wyoming.
• Construction bonds – contractors who bid or work on public projects in Wyoming will often encounter this requirement.
• Court bonds – in some cases, a Wyoming court may wish to protect one party’s interest by asking another party to post a court bond.

License and Permit Bonds

When applying for a business license in Wyoming, your application will in many cases need to be accompanied by a license bond. The purpose of the bond is simple: to protect the state and individuals against any fraudulent or unlawful business methods.

If you violate the agreement, any affected side has the right to file a claim using the license bond as foundation. You and the bond provider will be held legally responsible for making good on any valid claim.

The auto dealer bond, along with the contractor license bond and the mortgage broker bond, are some of the most frequently-requested license bonds in the state.

Construction Bonds

According to the Wyoming Little Miller Act, when a construction contractor wants to work on a state project, they will usually need to post a construction bond first.

Construction bonds are a way for the government to protect taxpayer money and their investment, as they can be triggered in case of contractor default or breach of contract.

Bid bonds, for example, are required during the bid stage of a project. When a contractor is awarded the project, the bid bond guarantees that they will agree to take the project and complete it within the price indicated in the bid.

Before starting work on the project, another type of construction bonds, called performance and payment bonds, will need to be posted, this time to protect against contractor default and delayed payment to subcontractors and laborers.

Court Bonds

Have you been appointed a fiduciary by a court in Wyoming? Or do you want to appeal a judgment made by one? These are just two of the instances that may require you to post court bonds, called fiduciary bonds or appeal bonds, respectively.

In the case of fiduciary bonds, they make sure you protect the interest of the person with whose assets or property you were entrusted. In the case of appeal bonds, they are set in place to discourage unnecessary court appeals.

Cost of Wyoming Surety Bonds

Our surety bond calculator below will give you a rough estimate of your bond price. However, it’s always a good idea to understand how surety bond pricing works.

Each surety bonds has a total bond amount listed on it. Similarly to insurance, this amount refers to the maximum compensation a claimant can receive. The holder of the bond pays a bond premium to a surety bond underwriter, so the latter can vouch for their credibility. The premium is no more than a few percent points of the total bond amount.

How is surety bond cost determined?

The surety bond premium you will have to pay largely depends on your personal credit score. For a bond underwriter, this is the best indicator of the risk they undertake by underwriting each bond. Some other factors can also be evaluated if you choose to submit them:

• Personal and business financial statements
• Liquid assets
• Years of experience in the industry

For applicants with a high score the premium is usually between 1% and 4%. In case you have weak financials or credit issues (lack of credit history is considered the same as bad credit), you are considered a higher risk to the surety. Bonding companies compensate for the risk by asking for higher premiums, typically between 5%-15%.

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Surety Bond Cost Calculator

Bond Type Select Your Required Bond Auto Dealer BondCollection Agency BondContractor License BondDebt Collector BondFreight Broker BondMedicare/Medicaid BondMortgage Broker BondRetail & Professional Services BondSchool BondSmall Loan Company BondSports Permit BondTax & Utility BondTelemarketing BondTravel Agent BondAll Other License Bonds

State Requiring the Bond Select Your StateAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyoming

Surety Bond Amount ($)

Select Your Credit Score Please select Above 700 650 - 699 600 - 649 550 - 599 549 and under

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How to Get a Surety Bond in Wyoming

To apply for a bond, follow the instructions below!

License bond application

To apply for a license bond, complete our simple online application form. Shortly after, we will contact you with a free bond quote and further information.

Not ready to apply? Then simply get a free no-obligations quote, so you can see our low prices!

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Contract bond application

To apply for a contract bond, complete the online application based on the type of bond that you require. We'll then get back to you as soon as we have reviewed it.

If you need more information or help completing your Wyoming surety bond application, don’t hesitate to call us at 866.450.3412!

Want to explore more surety bond-related topics? Check out our Education Center, where you can find the answers to many of your questions, and learn everything you need to know.

Further Reading

About us:

Bryant Surety Bonds

Bryant Surety Bonds, Inc. is a surety bond agency based in Pennsylvania. Licensed in all 50 states and with access to over 20 T-listed, A-Rated bonding companies, we have the contacts, expertise, and top service to provide you with a hassle-free experience, all while offering competitive rates for your surety bond.