Illinois Remittance Agent | $50,000 Remittance Agent Surety Bond

Also known as: remittance agent bnd

Type of Bond

An Illinois Remittance Bond is a type of surety bond required by the state for businesses that transmit money, such as money transmitters, payment processors, or money order issuers. This bond ensures that the business complies with state laws, regulations, and ethical standards governing the money transmission industry. The purpose of the bond is to protect customers, the state, and the public from potential financial loss, fraud, or unethical conduct by the money transmitter. It serves as a financial guarantee that the business will operate their transactions professionally, ethically, and in accordance with the law, including the proper handling of money transactions, transparent disclosure of fees, and timely payment of related taxes. If a money transmitter fails to fulfill their obligations, engages in fraudulent or unethical practices, or violates state regulations, a claim can be filed against the bond to compensate affected parties for any damages or financial loss incurred. In summary, the Illinois Remittance Bond helps ensure that businesses engaged in money transmission maintain a high level of professionalism and integrity in their work, protecting the interests of customers, the state, and the public.


Program

The price you'll pay for your $50,000 Remittance Agent Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!

We provide all types of $50,000 Remittance Agent Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.


Application

The application process for a $50,000 Remittance Agent Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Remittance Agent Bond Application process.

The Illinois Remittance Agent Bond amount is currently set at  $50,000.

Obligee Information

An obligee is the entity that is requiring you to have the Remittance Agent bond.

For your convenience you can view a sample copy of the Illinois Remittance Agent Bond Form.

Obligee: Illinois Secretary Of State
Street: 501 S 2nd St Rm 69
State: Illinois
Zip: 62756