What are Farm Labor Contractor Surety Bonds?
Several states require that farm labor contractors register with a state agency and post a Farm Labor Contractor Surety Bond. The purpose of this bond varies by state, but offers protection to employees hired by the contractors, ensuring they work under proper conditions and get paid on time. They also guarantee compliance with all applicable state regulations.
If any of the stipulations of the bond agreement are violated, the farm labor contractor can face a claim up to the full penal sum of the bond. Bonding companies will step in to compensate the claimant, but will then seek full reimbursement from the contractor.
Which states require Farm Labor Contractor Bonds?
How are Farm Labor Contractor Bonds purchased?
The first step is to complete our quick online application for your free, no obligation bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing. If you prefer to speak with our knowledgeable staff, please call 1-866-722-7873 and one of our Underwriters will assist you in applying for your bond.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.
Can I get this Surety Bond with bad credit?
Pacific Surety offers a wide range of approvals, regardless of credit, for Farm Labor Bonds. With our strong surety relationships, we have the ability to approve 99% of applicants, regardless of how bad their credit is and our knowledgeable underwriting staff will work with you to ensure you receive the lowest possible pricing for your bond.
To see what rate you will qualify for, please complete our online application for your free, no obligation price quote.
How much do Farm Labor Contractor Surety Bonds cost?
Farm Labor Surety Bond pricing varies, and your premium will be based on the following factors:
- Amount of the bond
- Personal credit for all owners with at least a 10% ownership stake in the business
An underwriter will review your application, and individuals with good credit can expect to pay 1%-3% of the bond amount. To find out how much your Farm Labor Bond is going to cost, please complete our online application for your free, no obligation price quote.