The Wisconsin Adjustment Service Company Bond is required by the State of Wisconsin Department of Financial Institutions in order to obtain an Adjustment Service Company license. The bond states that the bondholder shall comply with the provisions of Section 218.02 of the Wisconsin Statues. In addition, they shall comply with all lawful orders, rules and regulations in effect. Five Thousand dollars ($5,000) is the bond amount, per proposed location.
Who is required to be licensed?
The license is required for any corporation, limited liability company, association, partnership or individual engaged as principal in the business of prorating the income of a debtor to the debtor’s creditor. As well as, assuming the obligations of any debtor by purchasing the accounts the debtor may have with the debtor’s several creditors, in return for which the principal receives a charge or other consideration.
The Adjustment Service Company Bond is one of the licensing requirements.
What are other licensing requirements?
- Adjustment Service Company application
- Financial statements
- Payment of fees
- Certificate of Good Standing, if applicant was incorporated in a state other than Wisconsin
- Criminal history report
- Officer/Director/Owners’ resume
- Business plan
How do I obtain a Wisconsin Adjustment Service Company Bond?
First, start the process by completing 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 Wisconsin Adjustment Service Company bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
At Surety1 you can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.
Surety1 has been in the business since 2003. We are licensed in all 50 states and our services have earned an A+ rating from the Better Business Bureau.