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Non Compos Mentis
Join Date: May 2001
Location: Off the grid- Almost
Posts: 10,653
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Usually purchased from an insurance company. Your agent will be able to send you the right direction.
I used to have a general contractor's license that required a $6000 bond. I put $6000 cash in an "Assignment of Account" with the state as the beneficiary. It was in an interest earning CD, and the interest was enough to cover the premiums for my liability policy, so I basically had my contractor's license for free.
The rules are much stricter now for construction here in Washington State, with much higher liability limits, but that is still one possibility if you have the cash neccessary to cover the bond.
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