The Montana Escrow Business Bond is required by the Division of Banking and Financial Institutions in the amount of $100,000. Only a State authorized surety company can provide this bond.
Why do I need to get a Montana Escrow Business Bond?
The surety bond is a prerequisite for anyone applying for an Escrow Business License in Montana. This is a person engaged in commercial activity characterized by the regular and continuous carrying of escrow transactions. Transactions in which one person, for the purpose of effecting the sale, transfer, encumbrance or lease of real or personal property to another person.
What are the other licensing requirements for an Escrow Business?
- Payment of $350 for the license
- Bank account information
- Business Plan
- Certificate of Authority/Good Standing Certificate
- Document samples
- Formation document
- Management Chart
- Organizational Chart
- Trust Account Authorization
All licensing for the Montana Division of Banking and Financial Institutions is done through the Nationwide Mortgage Licensing System, NMLS.
Where can I get a Montana Escrow Business Bond?
At Surety1 we will get you bonded quickly. 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 using 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 Escrow Business bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been issuing surety bonds in the State of Montana since 2003. We are rated A+ by the Better Business Bureau for our outstanding service.