HB 11-1198 signed by Governor John Hickenlooper April 22, 2011
HB 11-1198 Final Vote
Bond: A written agreement in which one party, the surety, guarantees the performance or honesty of a second party, the principal (obligor), to the third party (obligee) to whom the performance or debt is owed.
A Bond is a financial instrument to indemnify a third party, it is not insurance, the purchaser of the bond is responsible for re-payment of any money paid due to the default of "you" the purchaser. This is similar to going to a bank and applying for a $50,000 loan, you will need to financially qualify as you would with any bank loan, for example three years qualified financials, "tax Returns", good credit, assets.
There are bonds available for less then desirable credit, ask PEI Insurance agency, we can help.