Surety Bonds
Can a Surety Bond Be Cancelled?
Yes — most surety bonds can be cancelled, but cancellation typically requires advance notice and may trigger license suspension or contract default.
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Can a surety bond be cancelled before it expires?
License bonds: the surety can cancel with advance notice (typically 30–60 days written notice to the obligee). When a license bond is cancelled, the licensing board is notified and typically suspends the license until a new bond is obtained. You must get a replacement bond immediately to avoid license suspension.
Performance and payment bonds: these are typically not cancellable once issued on a project — they run for the life of the contract. The surety’s obligation survives until project completion and any warranty period.
If your surety cancels your bond (due to non-payment or other reasons), treat it as an emergency. Contact Trade Safe immediately to get a replacement bond in place before your license is affected.
Need a surety bond fast?
Trade Safe helps contractors get bonded same-day in most cases. We work with multiple surety markets to find the best rate for your situation.