In the simplest terms, a surety bond is a guarantee. What the bond guarantees varies depending on the language of the bond. It is a form of credit, not insurance.
To start the process, you first need to apply. Once approved, all that is required is payment and a signed agreement between you and the bonding company.
The bond is then issued 1-2 business days from receipt of payment and the agreement (original agreement may be required).
Bond premiums vary greatly depending on the applicant, the bond type, surety, and the obligee. Just like other forms of credit, everyone does not receive the same rate.