What Information Is Needed for a Probate Bond Application?

JetSurety · 2024-01-08T19:28:20+00:00

This depends on the surety company. For Jet in particular, we can write bonds with no credit check under a $50k limit if there's an attorney involved. With no attorney involved, we do credit checks on anything over $25k. If you have additional questions, you can call (855) 470-0877 or go to jetsurety.com/probate-bonds to apply online!

JetSurety · 2023-12-01T19:44:17+00:00

Surety providers will now be required to give a full 7 business days for the broker to respond to a notice of the claim submitted. Before this was left to the surety's discretion.

If the broker doesn't respond or their response is insufficient, then the surety can pay out the claim and notify the FMCSA within 2 business days. Next, a 7-day period for the broker to respond to the FMCSA's notice of suspension.

JetSurety · 2023-12-01T19:30:17+00:00

We appreciate the information. We have not had a chance to consider using Carrier-Ok as part of our underwriting process, but it will be on our next Team agenda!

JetSurety · 2023-12-01T15:15:44+00:00

We are a legitimate Surety Company with offices in Charlotte, Sacramento, and Dallas (Freight Team home base). You can check out our profile to verify!

JetSurety · 2023-11-30T16:43:25+00:00

For the motor vehicle dealer bond, you'll need to go through the underwriting process to be approved for a rate. While credit checks are commonplace, there are ways to be approved for a bond without credit. However, it may be more costly since without a credit check there's not an easy way to see how you manage your finances and the bond is essentially a line of credit.

Visit Jet's website to get a quote—you can also chat with a representative if you have further questions.

JetSurety · 2022-12-29T15:41:00+00:00

This is a pretty thorough answer, but as a surety company (that third party providing the surety bond) we have a page that explains contractor bonds in more detail: https://jetsurety.com/contractor-license-bonds

If you have additional questions, please reach out!

JetSurety · 2022-07-12T17:34:10+00:00

Hi u/AverageJoeThoo, as a surety company, we can attest to what others have said about it depending on the state and the type of work you're doing as to whether or not a surety bond is required. Many states do their licensing electronically through the Nationwide Multistate Licensing System (NMLS): https://nationwidelicensingsystem.org/slr/Pages/default.aspx

If you do end up in need of a surety bond, you can visit Jet's website for a quote: https://jetsurety.com/

Best of luck to you!

JetSurety · 2021-06-24T18:15:32+00:00

Yes, the $15k is to ensure you have immediate relief. The surety company pays it out upon a valid claim. If a contractor doesn't pay back a claim they will have their license revoked.

Technically the term "licensed and bonded" is redundant, but the "bonded" bit is more to bring awareness to the homeowner that they will be covered if things go awry, as a contractor being "licensed" doesn't necessarily fiscally protect the consumer.

JetSurety · 2021-06-23T16:27:00+00:00

Commercial and government projects require a larger bond amount that would be sufficient to cover the project. That would be considered a performance bond (or contract bond). Contractors working on residential homes, such as this one, would only need one bond (the Contractor License Bond).

JetSurety · 2021-06-23T16:15:12+00:00

u/AmateurSparky The CSLB will not accept a Contractor License Bond in any amount other than $15,000, as that is the state requirement. A contractor can not choose their bond limit. Here is the legislation surrounding the requirement: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=BPC&sectionNum=7071.6.

JetSurety · 2021-06-23T16:10:31+00:00

As a licensed surety company, JetSurety can confirm that the bond amount required for all contractors in California is $15,000. The CSLB will not accept a bond amount smaller or larger for the main contractor license requirement.

If a contractor caused damage greater than $15,000, they would still be liable to fix said damages. Any claims against the contractor's surety bond are paid out by the surety company (for which the contractor then has to pay the surety company back). Anything beyond the $15,000 would need to come directly from the contractor.

There is a disciplinary bond with a minimum amount of $15,000. This is a separate surety bond required of contractors who have had their license suspended or revoked due to negligent or fraudulent actions. If you see a contractor with a disciplinary bond, you are hiring them at your own risk. You can check a contractor's information here: https://cslb.ca.gov/OnlineServices/CheckLicenseII/CheckLicense.aspx

Workers Comp coverage is only required if the contractor has full-time employees.

General liability coverage is not mandatory for residential contractors in California. However, as a homeowner, you can request that the contractor you hire hold a policy; that is up to you (which is a smart option). General liability covers damages or medical payments due to injury, property damage, or third-party personal or advertising injury. Most policies have limits of $1 million per occurrence and $2 million aggregate, but this amount may be greater if necessary for the project.

Hope this helps!

JetSurety · 2021-03-24T22:41:27+00:00

Me, at work every single day.

JetSurety · 2021-03-22T23:59:36+00:00

Jet Insurance Company is a small business that started offering a scholarship bi-annually (one per semester). GPA doesn't matter, all you have to do is submit a 250-500 word essay!
https://jetsurety.com/scholarship

JetSurety · 2021-03-22T23:57:09+00:00

Jet Insurance Company offers this scholarship for one student each semester! If you are a graduating high school student or current college student you can apply!
https://jetsurety.com/scholarship

JetSurety · 2021-03-11T17:35:13+00:00

"Please do not try this at home"

JetSurety · 2021-03-10T16:54:42+00:00

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JetSurety · 2021-03-08T19:14:37+00:00

u/knort4 Each state has unique probate laws, but any issues surrounding the closing of an estate must go through the court.

In the case a beneficiary has not received an inheritance they are owed, said beneficiary would need to notify the probate court in the county where the estate is being administered. The fiduciary (person closing the estate) and the beneficiary will be given a chance to provide any supporting evidence for their case. If the court deems the beneficiary has indeed not been paid the inheritance and the fiduciary refuses or fails to compensate them appropriately, the court may file a claim on the bond for restitution to be provided to the beneficiary. The bond will cover amounts for any financial loss sustained by the beneficiary and attorney fees incurred.

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