The Oregon Patient Trust Bond is required by the Department of Human Services. Individuals who are applying for a Nursing Home Facility license are required to show security for the personal funds of residents deposited with the facility. The Patient Trust bond is one way for a licensee to meet this requirement.
The amount of the bond must cover the highest amount of the account holding resident funds during the previous 12 months. Petty cash funds need to be included in the amount.
Personal funds of nursing home residents can be held with the facility, at the residents request. The facility must establish and maintain a system that assures a full, complete, and separate accounting of each resident’s personal funds. The Patient Trust bond serves to assure the state that the personal funds of all residents, deposited in the facility, are secured. The bond states that the bondholder will hold any personal funds of each resident safeguard. Each resident’s personal funds will be maintained in writing with records and receipts adequate for audit.
There is no better place than Surety1 to handle your bonding needs. We have partnered with several A rated surety companies to provide you will the lowest rates available.
Start the process by completing our easy-to-navigate, free online application form. After that, one of our surety agents will contact you with a no-obligation quote for the bond premium. Once you decide to move forward with us, we will collect the premium payment and have you sign the agreement. Lastly, we will send your Oregon Patient Trust Bond to you through USPS Priority Mail. Overnight is available for an additional fee.
Surety1 has been writing Surety Bonds since 2003. We are licensed in all 50 states. Our outstanding services have earned an A+ rating from the Better Business Bureau.
Call us toll free at 877-654-2327. We have live surety bond agents available Monday – Friday, 8:00 – 4:30 PST