Nevada Structured Settlement Purchase Company Bond Guide
If you’re applying for a structured settlement purchase license in Nevada, you’ll likely need this $50,000 surety bond.
Bond Overview
- Purpose: To ensure the company fulfills obligations to the customer and operates legally
- Who Needs It: Structured settlement companies in Nevada
- Regulating Body: The Nevada Consumer Affairs
- Required Coverage: $50,000
- Premium Rate: $500–$5,000, credit based
Learn all about the bond requirements and process in this guide.
What Is a Nevada Structured Settlement Purchase Company Bond?
A Nevada structured settlement purchase company bond ensures that company owners and employees operate ethically and follow state regulations.
This bond protects clients who sell structured settlement plans to companies for a discounted lump sum.
How Much Do Structured Settlement Purchase Company Bonds Cost in Nevada?
$50,000 Nevada structured settlement purchase company bonds typically cost $500–$5,000.
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.
Who Needs a Structured Settlement Purchase Company Bond?
The Nevada Consumer Affairs requires this bond as part of the licensing process for structured settlement purchase companies in the state.
As an alternative, you can submit a letter of credit or a cash bond. However, a surety bond is often the most affordable option, requiring only an upfront premium and no collateral.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Nevada structured settlement purchase company 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 mail you the bond via your preferred shipping method. Be sure to file the bond with Nevada Consumer Affairs as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Nevada Structured Settlement Purchase Company Bond Work?
As with all surety bonds, a structured settlement purchase company bond creates a legal contract between three parties:
- Principal: You, the structured settlement purchase company filing the bond
- Obligee: Nevada Consumer Affairs requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Senate Bill No. 332 §33.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your structured settlement purchase company bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
