The California Check Seller Bond is required by the California Department of Business Oversight in the amount of $500,000. 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.
The California Check Seller Bond is required for all those who are seeking to obtain a Check Sellers license. A check seller is defined by the state of California as:
Any individual or corporation who wishes to engage in the business of selling checks, drafts or money orders, or of receiving money as agent of an obligor for the purpose of paying bills, invoices or accounts of such obligor or to accept money in payment of utility bills except as an authorized agent for a utility company must obtain a license from the Department of Business Oversight.
For those licensees who use agents, the requirements are considerably higher. In addition to the financial and bonding requirements, applicants must demonstrate that they have experience in this type of business, and that they do not have a criminal history or a history of noncompliance with regulatory requirements.
Surety Solutions Insurance Services, Inc can provide you with this bond. We have been issuing surety bonds since 2003 and our clients are from all 50 states.
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your California Check Seller bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 is rated A+ by the Better Business Bureau.
