Oklahoma PEO Bond Guide
If you’re opening an employment agency in Oklahoma, you’ll need this surety bond.
Bond Overview
- Purpose: To ensure compliance with employment laws and protect clients
- Who Needs It: Private personnel and staffing agencies in Oklahoma
- Regulating Body: The Oklahoma Insurance Department
- Required Coverage: $50,000
- Premium Rate: 1–5% based on credit score
Learn all about the bond requirements and process in this guide.
What Is an Oklahoma Professional Employer Organization Bond?
An Oklahoma professional employer organization (PEO) bond, also known as an employee leasing company bond, protects companies and job-seekers from harm if an agency is fraudulent or breaks employment laws.
The Oklahoma Insurance Department requires this bond as part of the licensing process for employment agencies in the state.
How Much Do Professional Employer Organization Bonds Cost in Oklahoma?
Oklahoma professional employment agency bonds cost a small percentage of the bond amount, typically 1–5% based on credit score.
Qualified applicants often pay $500 for the $50,000 coverage. Apply for your free, personalized quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Professional Employer Organization Bond?
The Oklahoma Insurance Department requires this bond for any private company that charges a fee for helping place job candidates with businesses that are hiring.
This includes temporary staffing agencies, employment agencies and recruitment firms.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get an Oklahoma PEO 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 the Insurance Department as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does an Oklahoma Professional Employer Organization Bond Work?
As with all surety bonds, a professional employer organization bond creates a legal contract between three parties:
- Principal: You, the employment agency owner(s) filing the bond
- Obligee: The Oklahoma Insurance Department requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding Oklahoma Statutes Title 40 §40-53.
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 employment agency bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
