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How much does a $5,000 security guard company bond cost in Denver?
A $5,000 security guard company bond costs $100 for a full year and is issued instantly with SuretyBonds.com. However, these bonds expire on December 31, meaning the exact premium the applicant will pay for an initial bond term may be prorated.
Why do I need a merchant guard company bond in Denver?
The Department of Regulatory Agencies requires companies to post a $5,000 surety bond if they provide professional security services.
This bond ensures that a company providing professional security services will conduct business in accordance with the provisions of Chapter 42, Article V of the Revised Municipal Code of the City and County of Denver. For example, this bond requires such companies to pay all wages and salaries due to its agents and employees. If the applicant fails to do so, a claim can be made against the bond by the city and/or any person who was injured by the company’s faulty business practices.
Terms of security guard company bonds
Denver, Colorado security guard company bonds are continuous until canceled and must be renewed annually on December 31. If the bond is to be canceled, the surety must provide 90 days' notice. For the obligee to accept the bond, the principal’s signature on the bond form must be witnessed.
How to become a licensed merchant guard company in Denver
In addition to submitting the $5,000 surety bond, Denver merchant guard companies must take additional steps to become properly licensed.
Before beginning an online application, Denver’s Business Licensing Center recommends applicants complete the following to ensure the application process runs smoothly:
- Read the ordinance and rules governing security guard licenses to ensure they are applying for the correct license type
- Find employment with a private security employer or merchant guard company and obtain a Letter of Hire
- Complete a training program provided by an Eligible Training Provider that is suitable for a new security guard applicant
- Gather all required documents and ensure documents are filled out completely and uploaded onto the applicant’s computer (Note that some documents may take several days to obtain, such as an FBI background check or the Certificate of Physical and Mental Fitness)
- Ensure applicant has a banking account, Mastercard, Visa, or Discover card to pay the $25 application fee
Once the applicant is ready to begin the application process, they must register for an account and complete the online application.
When applying for a merchant guard license, the following documents will be required:
- Certificate of Security Guard Training Completion completed within the last 60 days
- Certificate of Physical and Mental Fitness completed within the last 60 days
- Copy of Valid State or Federally Issued Identification
- Headshot that meets Badging Criteria
- Letter of Hire from intended employer completed within the last 60 days
- Affidavit of Criminal and Employment History
- FBI background check ran within the past 60 days
If the applicant is seeking an endorsement for other things while working, such as carrying a firearm, there are additional request forms to be submitted.
Once the application is complete, the license should be issued within seven business days.