There are several different bond types that make up the class of bonds known as commercial bonds. They include license and permit bonds that are typically required to guarantee that a licensee adhere to the laws for a particular license. Indemnity bonds are included which act to hold harmless a third party who replaces a lost instrument such as a stock certificate or cashier’s check. Lastly, financial guarantees in which the obligation is to pay for a future financial obligation such as a utility bill or taxes. The qualification process varies based on the amount of the bond and the nature of the risk. IOA represents over 30 surety markets from coast to coast that writes nearly every bond imaginable. Most bonds can be approved the same business day.