How much does an armored car agency bond cost in Delaware?
Before issuing a license as an armored car agency, the Delaware State Police Board of Examiners requires all applicants to submit a surety bond. A $5,000 bond is required of sole proprietorships with no employees, and a $10,000 bond is required when an agency has employees.
SuretyBonds.com issues these bonds instantly for just $100! Simply click Buy Now to visit our online bond checkout. From there you can purchase your bond safely and securely directly from our site. In a few minutes you can be on your way to being bonded as an armored car agency in Delaware.
|Bond Type||Bond Amount||Cost|
|$5,000 Armored Car Agency Bond Sole Proprietor - No Employees||$5,000||$100|
|$10,000 Armored Car Agency Bond Business - Has Employees||$10,000||$100|
Why do I need this bond?
Delaware Code § 1327 stipulates that a bond and certificate of insurance must be obtained by anyone wishing to own or operate an armored car agency.
If anyone suffers harm as a result of the armored car agency’s failure to abide by all rules and regulations, they may make a claim against the bond. In the event that a claim is made, the surety will pay out up to the full amount of the bond, at which point it becomes the responsibility of the principal to reimburse the surety.
What’s the fine print?
Armored car agency bonds are issued for one-year terms and must be renewed on an annual basis via continuation certificate for as long as the agency wishes to keep their license active. The surety has the right to cancel the bond at any time during the term by providing the Board with 30 days’ advance notice.
How to become an armored car agency in Delaware
Providing the Board with a surety bond is just one step towards becoming licensed as an armored car agency in Delaware. The following requirements must also be adhered to by all licensees:
- At least 25 years old
- Minimum four years experience as a manager in an armored car agency
- No felony convictions
- No misdemeanor convictions involving moral turpitude or theft
- No convictions for drug offenses
- Meet and maintain qualifications established by the Board of Examiners
- Hold license issued by the Banking Commissioner pursuant to § 3203 of Title