$2,500 Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) Bond

Businesses are required to file a $2,500.00 bond with the State of Arizona Department of Fire, Building and Life Safety (the "Obligee") to activate their license. The bond protects the Obligee by transferring to a surety bond company the cost of ensuring the public is compensated for damages resulting from a licensed business breaking licensing laws.

Installer Manufactured, Mobile or Factory Built Homes (I-10C) Bond

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How much does the Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) bond cost?

Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) bonds typically cost between $100 and $200 depending on the personal credit, license history, and experience of the business owners and the surety carrier issuing the bond.

Credit Premium Rate Bond Cost
1.50% $100
2.00% $100
2.50% $100
4.00% $100
5.00% $125
7.50% $187.50
8.00% $200

Is a Credit Check Required for Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) Bonds?

Surety carriers will run a credit report as part of underwriting the bond because the business ultimately must reimburse the surety bond company for any claims made on the bond.

Why is the Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) bond required?

Businesses are required to purchase and file a $2,500 bond with the State of Arizona Department of Fire, Building and Life Safety to activate their license. The bond protects the Obligee by transferring to a surety bond company the cost of ensuring the public is compensated for damages resulting from the failure of a licensed business complying with the provisions of licensing laws.

How does the Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) bond work?

Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) bonds must be issued by an insurance carrier admitted by the Arizona Department of Insurance. The insurance company issuing any surety bond, such as the Arizona Installer Manufactured, Mobile or Factory Built Homes (I-10C) bond, will also be referred to as the "surety company" or the "bond company". The business is referred to as the Principal, the surety bond company as the Obligor and the State of Arizona Department of Fire, Building and Life Safety as the Obligee.

The surety company provides the Obligee a guarantee (the surety bond) that the customers, vendors and employees of a licensed business will receive payment for financial damages due to a violation of licensing law up the bond amount stated on the bond form ("penal sum"). The bond company also directly receives claims from the public and determines the validity of claims. Ultimately, the licensed business owners are responsible for their actions and required by law to reimburse the surety company for any payments made under the bond or face indefinite license suspension.