South Carolina Mortgage Lender/Servicer Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain South Carolina Mortgage Lender/Servicer Bonds At a Glance: Lowest Cost: 0.75% of the bond amount per year based on the applicant’s credit Bond Amount: Based on the amount of mortgage loans originated in the previous calendar …
South Carolina Money Transmitter Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain South Carolina Money Transmitter Bonds At a Glance: Lowest Cost: 1.5% of the bond amount per year based on the applicant’s credit Bond Amount: $50,000 plus an additional $10,000 per branch location to a maximum …
South Carolina Credit Counseling Organization Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain South Carolina Credit Counseling Organization Bonds At a Glance: Lowest Cost: 1% of the bond amount per year based on the applicant’s credit Bond Amount: Minimum of $25,000 (more on this later) Who Needs …
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Rhode Island Loan Broker Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Rhode Island Loan Broker Bonds At a Glance: Lowest Cost: 0.75% of the bond amount per year based on the applicant’s credit Bond Amount: Based on the amount of office location the broker operates $50,000 …
Understanding Indemnity Agreements August 23, 2021 Surety bonds are subject to indemnification, meaning that the principal (your customer) is required to repay the surety company for all claims and claims handling expenses. Surety bonds are unique from other types of insurance, and the indemnity aspect of these bonds can potentially throw off agents (and …
Rhode Island Mortgage Lender Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Rhode Island Mortgage Lender Bonds At a Glance: Lowest Cost: Between 0.75% to 5% of the bond amount per year based on the applicant’s credit Bond Amount: Based on the amount of office location the lender …
Rhode Island Check Cashing Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Rhode Island Check Cashing Bonds At a Glance: Lowest Cost: 1.5% of the bond amount per year based on the applicant’s credit Bond Amount: $50,000 for check cashers with 1 – 3 office locations $60,000 …
Rhode Island Small Loan Lender Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Rhode Island Small Loan Lender Bonds At a Glance: Lowest Cost: 1.5% of the bond amount per year based on the applicant’s credit Bond Amount: $10,000 for lenders with 1 – 3 office locations …
Rhode Island Currency Transmitter Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Rhode Island Currency Transmitter Bonds At a Glance: Lowest Cost: $750 per year or $75 per month based on the applicant’s credit Bond Amount: $50,000 Who Needs it: All currency transmitters operating in Rhode Island Purpose: …
Rhode Island Debt Management Services Bond: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Rhode Island Debt Management Services Bonds At a Glance: Lowest Cost: $750 per year based on the applicant’s credit Bond Amount: $50,000 Who Needs it: All debt management companies operating in Rhode Island Purpose: To …
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