The Vermont Litigation Funding Bond is required by the State of Vermont in the amount of $50,000. The bond states that the bondholder shall faithfully conform and abide by the provisions of Vermont Statues, Title 8. In addition, they shall pay all monies due under the provisions of Chapter 74 of the Act.
Who needs to have a Vermont Litigation Funding Bond?
Company’s who engage in the business of entering into a secured loan transaction. In which the company purchases and a consumer assigns to the company a contingent right to receive an amount of the potential net proceeds of a settlement or judgment. Obtained from the consumer’s legal claim.
Company’s wishing to engage in Consumer Litigation Funding must be licensed with Vermont’s Commissioner of Financial Regulation. The Litigation Funding Bond is one of the licensing requirements.
In order to find out the cost of the surety bond, all we need is the completed application. Surety1 has access to the best surety markets available so we will be able to get you bonded quickly at the best possible price.
What are other licensing requirements?
Application is through the Nationwide Multistate Licensing System (NMLS)
- $600 license fee
- Company form MU1
- Financial statements
- Business plan
- Certificate of Authority/Good Standing Certificate
- Document samples
- Formation documents
- Organizational chart/description
How do I obtain a Vermont Litigation Funding Bond?
Surety1 can get you a free, no-obligation quote FAST. Start by completing our easy to navigate, free online application. After that you will be contacted by one of our friendly surety agents with a no-obligation quote. Then when you are ready to proceed, we will collect the premium payment and have you sign the agreement. Lastly, we will send your Vermont Litigation Funding Bond through USPS Priority Mail. Overnight is available for an additional fee.
Surety1 is one of the best companies in the industry. Started in 2003, issuing surety bonds in all 50 states. We offer the lowest rates in the market by partnering and representing over a dozen A-rated surety markets. We also maintain an A+ rating from the Better Business Bureau for our fast and reliable service.