Blog Posts Categorized: Business Service Bonds - Page 2

Georgia private detective and security agencies have to obtain a license and file a surety bond with the state before offering their services to consumers. Here’s how you can get licensed and bonded.

Licensing an agency

Before even beginning the licensing process for Georgia private detective and security agencies, determine if you’re eligible to sit for the required examination. Here’s the criteria:

• Be a U.S. citizen at least 18 years old
• Be of good moral character
• Have no felony convictions, or convictions for any crime involving dangerous weapons or moral terpitude
• Must not have committed an act of fraud or dishonesty

Eligible applicants must also have qualifying experience:

• Two years employed full-time at a licensed private detective or security agency
• Two years of full-time law enforcement experience
• Four-year degree in criminal justice or a related subject

If an employee of a security agency will be armed, they also need to obtain a license through Georgia Board of Private Detectives & Security Agencies. All employees of a private detective agency must be licensed. The following is some of the information the agency application requires:

• $100 application fee
• 2 in. x 2 in. photo and fingerprints of company designee (if company is a partnership or corporation)
• Notarized letter of experience or sealed, certified college transcript
• Federal Employer ID number
• Business’s trade name
• Business email and physical and mailing addresses
• Information for authorized licenseholder

This list is far from exhaustive, so be sure to read the application in its entirety to ensure you answer every question and include all necessary documentation. Don’t forget to register any eligible employees and pay their application fee ($45-$80).

After your private detective or security agency is licensed, you’ll need to pay the licensing fees:

• $300 for private detective agencies
• $500 for security companies
• $700 for dual licensure

Licenses expire on June 30 in odd years. Do not purchase the $25,000 surety bond until you have passed the exam. A surety bond isn’t the only valid proof of financial security; you can also show proof of $1,000,000 of general liability insurance coverage or a net worth in excess of $50,000.

Why do agencies need this surety bond?

Though there are two other options for proof of financial security, a surety bond tends to be the most affordable option. At $25,000, the Georgia private detective and security agency bond will cost most buyers less than 3% of that�so less than $750. The bond is in place as licensees’ promise to obey state law for their business. Agencies’ main set of laws are known as the Georgia Private Detective and Security Agencies Act. The bond protects the state and consumers from financial damages as a result of an agency’s negligent business practices.

Pass the licensing exam and ready to get to the next step? Get a quote for your Georgia bond from Single Source Insurance today!

California credit services organizations are regulated by the state’s Department of Justice. Keep reading to find out how to register and get a surety bond.

Registering with the AG

California credit services organizations offer assistance to consumers with credit problems. The state defines them as organizations that provide and accept payment for performing or assisting a consumer with improving the consumer’s credit or helping them get a loan or extension of credit.

To get a Certificate of Registration from the Department organizations need to complete the application and then mail it in, along with a $100 filing fee and copies of contracts and any other documents consumers will have to sign. Here’s some of the information the application asks for:

• Date business was or will be first advertised
• Business name and DBAs
• Type of ownership and name of primary contact person
• Contact and personal information for any business owners
• Description and copies of all advertising materials, including radio and TV advertisements
• Description of credit services offered

Registration expires annually on December 31, and the Department does not send reminders to licensed businesses.�Credit services organization applicants must file a $100,000 surety bond with the California Secretary of State. Applications won’t be processed until the bond is on file and the $30 filing fee paid.

Why is this bond required?

California credit services organizations are required by law to get a surety bond because of the risky nature of their business. Handling consumer funds comes with a high risk of fraud, so registration and bonding are the state’s way of preventing fraud. In another protective measure, the bond has to be maintained for two years after the organization ceases operations.

The surety bond must be $100,000 with a term of no less than two years. If the organization disobeys the law and defrauds consumers or the state, claims can be made against the bond. If they’re paid out, the organization must reimburse the surety�meaning the bondholder is liable for the entirety of any paid claims. Those can be avoided by abiding by the bond’s terms and those of the Credit Services Act of 1984.

Ready to register as a California credit services organization? Call Single Source Insurance and get a free quote for your surety bond!�

Photo by�Anthony DELANOIX on Unsplash

Becoming a registered immigration consultant in California is easy with this quick guide. Learn more about how to register and get bonded.

What is an immigration consultant?

An immigration consultant is someone who, for a fee, offers advice and assistance to clients on immigration matters. It’s important to note that immigration consultants are not authorized to offer legal advice. Some of their services can include:

• Translating clients’ answers to questions on immigration forms
• Submitting forms on a client’s behalf to U.S. Citizenship and Immigration Services
• Referring clients to legal representation

That’s not a complete list, so make sure you understand the scope of services you can offer as an immigration consultant in California.

What do consultants need to register?

The first step in becoming an immigration consultant is registering with the California Secretary of State. Here’s what you’ll need to do and some of the documents you’ll need to submit for registration:

• Pass a background check
• Copy of a valid photo ID
• $100,000 surety bond
• Completed Immigration Consultant Disclosure form
• $30 filing fee
• 2″ x 2″ passport photo

Here are a few pieces of information you’ll need to provide on the disclosure form:

• Your name, date of birth, and home address and phone number
• Business address and phone number
• Employer information (if employed by a corporation or partnership)

Then, mail the form to the Secretary of State’s Special Filings Unit, P.O. Box 942870, Sacramento, CA 94277-2870.

You are not eligible to be an immigration consultant if you:

• Have been convicted of a felony
• Have been convicted of a disqualifying misdemeanor
• Fail to disclose any arrest or conviction

What does this surety bond do?

The immigration consultant surety bond protects anyone who uses their services, and the state, from financial damages. That’s because should a consultant’s business practices cause financial damages, a claim can be filed and if proven, the surety company will pay the claim up to the bond’s full amount. In this case, consultants need a $100,000 bond�that’s the total dollar amount the surety company will pay out for claims on this particular bond. But if any claims are paid, the consultant is on the hook for reimbursing the surety. Conduct business according to the law, and you’ll never need to use the bond.

Make sure to file a renewal or continuation of your surety bond with the Secretary of State before the bond expires. When you renew the bond, be sure to notify the Secretary’s office in writing within 30 days.

Ready to get the California immigration consultant bond? Single Source Insurance is ready to get you the best rate!�

Want to learn more about how to get a Texas automobile club license? Keep reading

What’s an automobile club?

Texas defines an automobile club as a business that offers car and travel related assistance to members. Services falling under the definition include those related to:

• Community traffic safety
• Travel and touring
• Theft prevention or rewards
• Maps
• Towing
• Emergency roadside assistance
• Bail bonds and traffic offense legal fee reimbursement
• The purchase of accidental injury and death benefits insurance coverage

If an automobile club offers insurance as defined above, the policy offered has to be approved by the Texas Department of Insurance.

Automobile clubs are issued Certificates of Authority by the Texas Secretary of State. The application asks clubs to specify if they are applying for initial licensure or renewal. Here’s some of the other information the Secretary’s office needs:

• Club business name, contact person, phone number and email
• Principal business and/or office address
• Business type
• Names and contact information for business owners or management
• $150 license fee
• Certificate of existence for corporation, or operating agreement for other business types
• $25,000 surety bond
• Certified copies of service contracts

Automobile club licenses expire annually on August 31, and renewal applications must be accompanied by a $150 fee.

Any agents employed by the automobile club need to be registered and pay a $10 filing fee—see the Texas Administrative Code for exemptions and registration rules. Their registrations expire one year from the date they are issued. If an agent leaves their position, the club needs to file a termination notice.

What does this bond do?

By purchasing and signing this�$25,000 surety bond, automobile club licensees agree to honor the terms of the bond. This bond requires principals (bondholders) to adhere to the Automobile Club Services Act in the Texas Transportation Code, and any other applicable state and federal laws.

Should the principal violate the bond’s terms and their actions cause financial damages for a customer, the customer can file a claim against the surety bond. The surety company pays out proven claims up to the bond’s full amount�in this case, $25,000. But the principal must reimburse the surety for paid claims, meaning liability lies with the principal.

Have more questions about the bond or ready to apply? Get in touch with Single Source Insurance for a fast, free quote!�

Photo by Allef Vinicius on Unsplash

Washington commercial fundraisers need to register with the state and get a surety bond to legally solicit donations. Keep reading to learn how to get registered and bonded.

Commercial fundraiser registration

Commercial fundraisers are individuals whose job is to solicit donations on behalf of a charitable cause or organization. They register with the Washington Secretary of State. The registration application asks for details about the organization they solicit donations for, including:

• Name(s)
• Federal tax ID number
• Unified Business Identifier (UBI) number
• Jurisdiction�state and/or country of incorporation
• Email and phone number
• Street and mailing addresses

The registration also asks commercial fundraiser applicants to provide some financial information about the charitable organization, including its expenses and contributions received. They must provide the name of the charity’s financial preparer and at least one contact person within the organization.

Registration comes with a $300 fee, and renewal registration is $225 annually. Applicants can pay $50 extra for expedited service. Commercial fundraisers should review the compliance requirements to ensure they operate within the law and send complete information to the Secretary of State. Registration applications must be mailed to the Secretary of State, Charities Program, via regular mail to:

P.O. Box 40234 Olympia, WA 98504

Applications mailed via express or overnight mail go to a different address:

801 Capitol Way S Olympia, WA 98501

Surety bonds for Washington fundraisers

Commercial fundraisers need to get a $25,000 surety bond when registering. Fundraisers in Washington need to adhere to the state’s disclosure requirements, certain information that has to be included with each donation solicitation. They need to disclose:

• The name of the person making the request
• Charitable organization and city of principal place of business
• Number and website of Secretary of State’s office if donor wants more financial information
• Name of the organization that employs the fundraiser

The bond is a guarantee to consumers that the fundraiser is not misrepresenting the organization or what donations are used for, along with adherence to any other provisions of the Revised Code of Washington Chapter 19.09. If the fundraiser violates any of the terms of the bond, causing financial loss to a consumer, the damaged party can file a claim against the surety bond. If a claim is paid out by the surety, the fundraiser must reimburse the surety for the full amount of claims paid.

More questions about registration for commercial fundraisers? Contact the Secretary of State.

Ready to start the fundraiser registration process? Get a Washington surety bond with Single Source Insurance!

Do you know what business service bonds can do for your business? Maybe you’ve heard of them but aren’t sure what they are for. Keep reading to find out if you might need one for your business.

What is a business service bond?

Business service bonds are not a legally mandated bond, like most. Instead, many businesses whose services involve sending employees to a client’s home�like housekeeping, pest control, pet sitters, painters, gardeners, etc.�purchase a business service bond. The bond protects the client in case an employee steals or causes other kinds of damage to a client’s home or property.

Most business service bonds are in amounts dependent on the number of employees the business has. Businesses can choose coverage of $5,000 to $100,000 for any number of employees. It’s important to remember that the amount you pay for your surety bond�its premium�is dependent on the bond amount. If you opt for a smaller surety bond, your premium will be smaller and your bond might not require a credit check. However, if you choose a larger coverage option, your bond will need to be underwritten. This means that your credit is evaluated to determine the amount of risk you pose to the surety.

When choosing your bond amount, consider not only the number of employees you have but also the cost of the bond premium and the consequences of claim payouts. Should a claim be made against your bond, and proven, you’re on the hook for reimbursing the surety company. That means if a $10,000 claim is paid out, you have to pay it back in full to the surety.

Benefits of business service bonds

Since business service bonds are not required by any government agency or laws, businesses obtain them voluntarily. This serves as a message to customers that the business has taken an extra step to protect them from any financial damages at the hands of employees. If you purchase this bond, don’t be afraid to advertise it to your customers�maybe you can say your business is “licensed, bonded and insured,” provided all three labels apply.

Ready to get a business service bond for your customers’ peace of mind? Get in touch with Single Source Insurance today!�