The Illinois Remittance Agent’s Bond is required by the Illinois Secretary of State, Vehicle Services Department, in the amount of $20,000. The bond states that that the bondholder shall transact the business of a Remittance Agent as provided by law under the aforesaid 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 or any of its political subdivisions, or to any of its officials, for the payment of vehicle taxes or vehicle license or registration fees regardless of when the money is accepted from the public or remitted to the State, whether or not the person renders any other service in connection with the making of any such remittance or is engaged in any other endeavor.
All who wish to be in this profession will need to be licensed.
You must file with the Secretary of State a written application for the license. Please ensure that the Application Form will have the name and address of the applicant, and there should be a statement disclosing whether the applicant has ever been involved in any civil or criminal litigation. The application must also include the affidavits of two persons residing in the city stating that the applicant is of good moral character. A payment totaling $50 for the license fee must also be given.
The application must also be accompanied with a surety bond in the amount of $20,000.
The process of getting the surety bond is easy. We offer an easy to use online application that can be completed in a matter of minutes. Soon after applying you will be contacted by one of our licensed agents with a firm quote for the bond premium. Then you complete some paperwork, make payment and your bond will be delivered to you via USPS Priority Mail. Overnight delivery is also available.
Surety Solutions Insurance Services, Inc. (Surety1) is licensed in all 50 states and is rated A+ by the Better Business Bureau. Surety1 has been writing surety bonds in Illinois since 2003.