Virginia Lottery | $20,000 Lottery Surety Bond
Also known as: lottery bond, lotto bond
Type of Bond
A Virginia lottery bond is a type of surety bond required by the Virginia Lottery Board for entities involved in the business of selling lottery tickets or operating lottery-related activities within the state of Virginia. These bonds serve as a form of protection for the state and its residents against potential financial losses resulting from noncompliance or wrongdoing by the bonded entity. The Virginia lottery bond ensures that the bonded entity adheres to all applicable laws, regulations, and contractual obligations related to lottery operations. If the bonded entity fails to fulfill its obligations, such as failing to pay required fees or prizes, the bond may be used to compensate the state or affected parties for financial losses. Entities typically required to obtain a Virginia lottery bond may include lottery retailers, distributors, manufacturers, and other relevant parties involved in the lottery industry within the state. The specific bond amount required may vary depending on factors such as the type of lottery activity and the volume of tickets sold. It's essential for businesses involved in the Virginia lottery industry to understand their bonding requirements and ensure compliance to maintain their operations legally.
Program
The price you'll pay for your $20,000 Lottery 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 $20,000 Lottery 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 $20,000 Lottery 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 Lottery Bond Application process.
The Virginia Lottery Bond amount is currently set at $20,000.
Obligee Information
An obligee is the entity that is requiring you to have the Lottery bond.
For your convenience you can view a sample copy of the Virginia Lottery Bond Form.
Obligee: Commonwealth Of Virginia State Lottery Department
Street: 900 East Main Street
State: Virginia
Zip: 23219
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!