According to Iowa Code section 538A.2, a Credit Services Organization is a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides any of the following services:
The Iowa Credit Services Organization Bond is for the benefit of any person who is damaged by the organization in violation if Iowa Code Chapter 538A.4. The bond allows a credit services organization to collect money from the buyer prior to full completion of services.
The Iowa Credit Services Organization Bond is continuous in nature. The surety may cancel the bond at any time with thirty days written notice to the credit services organization and to the Iowa Secretary of State. The bond must be maintained until two years after the date that the credit services organization ceases business operations.
According to Iowa Code section 538A.5, all credit services organizations must file a registration statement with the Iowa Secretary of State in order to conduct business in the State of Iowa. The registration statement must contain:
Furthermore, the registration statement must contain either:
It does not take long to process an Iowa Credit Services Organization Bond. We offer an easy to use online application that can be completed in a matter of minutes. After applying, within one business day you will be contacted by one of our licensed agents with a firm quote. You just need to complete some paperwork, make payment and your surety bond will be mailed 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 Iowa since 2003.