News, Legislation and Updates for the Surety Industry
SuretyBonds.com will close at 3:00 p.m. CST on Friday, December 13 for our annual holiday party. The office will reopen Monday, December 16 at 7 a.m. CST.
If you need bonding assistance over the weekend, you can contact us 24/7 through our site or call us at 1 (800) 308-4358 and leave a voicemail for one of our expert surety specialists. All emails and voicemails will be answered in the order they were received.
Enjoy the holiday season!
Governor Tom Corbett of Pennsylvania signed HB 1128 into law on November 27, 2013. HB 1128 increases the required bond amount for motor vehicle sales finance companies from $5,000 to $10,000. The legislation also introduces a new bond requirement for collection-repossessing professionals.
The new bond requirements are stated in § 6213.
“(a) Bond required.–A bond shall accompany each license application for a sales finance company and collector-repossessor.
(b) Form.–The bond shall be in the form prescribed by the department.
(c) Amount.–
(1) A bond for a sales finance company shall be in the amount of $10,000.
(2) A bond for a collector-repossessor shall be in the amount of $5,000.”
Click here to read the full text of Pennsylvania HB 1128. This legislation change will go into effect on November 28, 2014.
If you’re in need of a surety bond in Pennsylvania or any other state, contact SuretyBonds.com online 24/7 or by phone at 1(800) 203-4358 Monday through Friday between 8 a.m. and 7 p.m. CST.
The end of the year is quickly approaching, and in addition to winter weather, holiday shopping and family gatherings, there’s something else that should be on your mind: several types of surety bonds expire in December, including secondary mortgage surety bonds in Michigan, which expire on December 31.
Failure to maintain a proper surety bond could result in a loss of license. To continue practicing legally within the state of Michigan, all secondary mortgage brokers, lenders and servicers must renew their current surety bonds.
SuretyBonds.com has in-house surety experts who can renew secondary mortgage bonds in just a few minutes over the phone. Unless your credit score has changed in the past 12 months or the state has altered the required bond amount, you can expect to pay a similar rate for your bond as you paid last year.
What are you waiting for? Let the experts at SuretyBonds.com do all of the hard work to help you cross one item off your December to-do list! Call SuretyBonds.com at 1 (800) 308-4358 Monday through Friday between 8 a.m. to 7 p.m. CST, or contact an expert surety specialist online 24/7.
Here at SuretyBonds.com, we keep track of the expiration dates of each bond we sell and notify our clients when it’s time to renew. Our surety experts handle our clients’ accounts and can renew surety bonds within minutes over the phone.
The following three Texas bonds must be renewed by December 31, 2013:
In most cases, the price of a renewed surety bond will be similar to the year before. Unless the State of Texas updates the required bond amount or your credit score has fallen within the last 12 months, your bond amount should differ slightly or not at all.
With the holidays quickly approaching, the last thing you want to worry about is whether or not you’re still in compliance with the laws of the state of Texas and your industry. Let the experts at SuretyBonds.com do all of the hard work for you!
Call SuretyBonds.com at 1 (800) 308-4358 Monday through Friday from 8 a.m. to 7 p.m. CST, or contact an expert surety specialist online 24/7 to get your Texas bingo gross receipts bond, mixed beverage receipts tax bond or City of Dallas paving bond renewed in just five minutes over the phone.
At SuretyBonds.com, it’s our goal to help each and every client enjoy a fast, easy and accurate bonding experience. It’s important to us that the high standard of service our clients have come to expect extends past their initial bond purchases. We make it a priority to help our clients renew their surety bonds year after year, which is why we notify our clients of their upcoming bond expiration at 90, 60 and 30 days out.
The following auto dealer bonds expire on December 31, 2013:
It’s important to renew your bond prior to the deadline in order to remain in compliance with the laws of your state and industry.
If you need to get your bond renewed, the experts at SuretyBonds.com can get it done in just a few minutes over the phone. Typically, surety bonds can be renewed for a similar rate as the previous year unless your personal/professional financial credentials or bond amount has changed in the past 12 months.
Call SuretyBonds.com at 1 (800) 308-4358 Monday through Friday from 8 a.m. to 7 p.m. CST, or contact an expert surety specialist online 24/7 to get your auto vehicle dealer bond renewed.
