The California Bill Payer Bond is required by the California Department of Business Oversight. in the amount of $25,000. The bond states the bondholder shall faithfully conform to and abide by the provisions of the laws, rules and regulations made by the Commissioner. In addition, they shall honestly and faithfully apply all funds received. As well as, honestly and faithfully perform all obligations and undertakings.
Who needs a California Bill Payer Bond?
This bond is required for all those who want to be licensed as a Bill Payer in the state. A Bill Payer is someone who pays bills. They receive money as an agent of an obligor to pay bills. They will receive a fee from the obligor for their services.
What are other Licensing Requirements?
- Payment of $250 for the application fee and investigation fee
- Completed application form
- License bond in the amount of $25,000
- Fidelity bond in the amount of a minimum of $50,000.
- A net worth of at least $10,000 including liquid assets of at least $5,000
Where can I get a California Bill Payer Bond?
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application.
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
- Get your Bond
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.