The cost of your bond depends on mainly two factors
- The bond amount
- Your credit score
The bond amount is determined by your state's Department Finance or similar institution. The bond amount depends on many factors, such as the amount of transmissions your company has done in the previous year, the number of locations your company has in your state. There is no fixed bond amount
Your credit score affects the premium % of the total bond amount. This premium % ranges from 1% and 4% of the bond amount and it depends on the credit score of the company owners and the financial strength of the company.
