Industries Covered

• Not every type of business in Georgia requires a surety bond. The list of companies requiring surety bonds is extensive, but not all encompassing. Industries that require a surety bond include high-risk enterprises such as the lottery, dangerous professions such as private investigator, industries that involve some sort of vice such as tobacco and alcohol, most of the construction industry, utility companies, the auto industry and the real estate industry.
  
  

Obligee

• The obligee of a surety bond in Georgia is generally a government agency of some kind. The government agency named as an obligee is the relevant government oversight body. For example, a real estate surety bond has an obligee of the Georgia Real Estate Appraisers Board, while a mortgage broker would be bonded to the Department of Finance and banking. This is to help the relevant agency enforce the law and cover costs in the event that a business is non-compliant.
  
  

Application Procedure

• The application procedure for a surety bond in Georgia varies widely from one sector of the economy to another. In many cases, you will need to fill out a form and pay fees. The forms, like the specific application procedure, vary greatly from one department to another. Your application for a surety bond should be submitted to the relevant department. There are also companies in the state who will handle the application process for you.
  
  

Costs

• The cost of a surety bond depends on how much you must be bonded for. For example, at the time of publication a mortgage broker in Georgia must be bonded for $50,000. Another factor is what your credit rating is, with better credit making for a smaller payment on your surety bond. A $50,000 broker bond would cost between $500 to $12,500 depending on credit according the website The Thriving Small Business.