According to the Ohio Credit Services Act, a Credit Services Organization is any person that sells provides, or performs the following surfaces in exchange for payment:
Before conducting business in the State of Ohio, all Credit Services Organizations must file a surety bond with the Division of Financial Institutions. The Ohio Credit Services Organization Bond ensures that the Organization will fully comply with the Ohio Credit Services Act, Sections 4712.01 to 4712.14 of the Revised Code of Ohio. Furthermore, the bond protects those damaged by violations of said Act.
The Ohio Credit Services Organization Bond is continuous in nature; however the Surety may cancel the bond at any time with 30 days written notice to the Division of Financial Institutions. The bond must be in full force and effect at least 2 years after the Organization ceases business.
In addition to the Ohio Credit Services Organization Bond, any Credit Services Organization must receive a certificate of registration from the Division of Financial Institutions. Pursuant to Section 4712.02 of the Revised Code of Ohio, the registration application must contain the following information:
CLICK HERE for more information from the Ohio Attorney General.
It does not take long to process a Ohio 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 Ohio since 2003.