The Illinois Remittance Agent’s Bond is required by the Illinois Secretary of State, Vehicle Services Department. The bond amount is set at $20,000. It states that that the bondholder shall transact the business of a Remittance Agent as provided by law under stated Act and Rules.
A remittance agent is any person who is engaged in or who engages in accepting money for remittance to the State of Illinois for the payment of vehicle taxes, vehicle license or registration fees. Included are any of the State’s instrumentalities, political subdivision or any official(s). Regardless of when the money is accepted from the public or remitted to the state.
All who wish to be in this profession must be licensed. The Remittance Agent’s bond is one of the licensing requirements.
File with the Secretary of State a Remittance Agent License Application. Include an Affidavit for Remittance Agent License. As well as a Bond Affidavit for Remittance Agents. A payment totaling $50 for the license fee must also be submitted.
Surety1 can easily get you the bond that you need. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets.
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 Illinois Remittance Agent’s bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been in the business since 2003. We are licensed in all 50 states and our services have earned an A+ rating from the Better Business Bureau.