Montana Escrow Business Bond Guide
If you’re applying for an escrow business license in Montana, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure proper management of escrow transactions
- Who Needs It: All escrow business licensees in Montana
- Regulating Body: The Division of Banking and Financial Institutions (DBFI)
- Required Coverage: $100,000
- Premium Rate: $500–$5,000, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Montana Escrow Business Bond?
Any business regularly making escrow transactions in Montana must hold a valid license and surety bond.
The escrow business bond holds licensees financially responsible for upholding state laws and regulations. This protects both the state and clients involved in escrow transactions.
How Much Do Escrow Business Bonds Cost?
Montana escrow business bonds cost a small percentage of the $100,000 coverage amount, typically $500–$1,000.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Montana escrow business bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll upload the bond directly to the NMLS on your behalf.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Montana Escrow Business Bond Work?
An escrow business bond creates a legal contract between these three parties:
- Principal: You, the escrow business filing the bond
- Obligee: The Montana Division of Banking and Financial Institutions requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding all provisions of the Montana Escrow Business Act.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your escrow business bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.