How much does an employment agency bond cost in South Carolina?
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|Bond Type||Bond Amount||Cost|
|$3,000 Employment Agency Bond||$3,000||$100|
Why do I need this bond?
South Carolina employment agency bonds are required by the Secretary of State to guarantee that principals (employment agencies) comply with all provisions of Act 107 of 1981 of the State of South Carolina and pay all sums due to any individual or group of individuals as contracted. Specifically, this bond protects any person who suffers financial loss as a result of the principal’s unlawful business practices.
What’s the fine print?
Employment agency bonds in South Carolina remain in full force and effect until canceled. The Secretary of State can cancel the bond at any time by providing written notice of termination to the surety. The surety can cancel the bond at any time by giving written notice of cancellation to the Secretary of State. Cancellation becomes effective 30 days after the state receives said notice.
How to start an employment agency in South Carolina
Prior to getting licensed as an employment agency in South Carolina, applicants must complete several requirements:
- Submit notarized application for licensure
- Submit certification by licensed member of South Carolina Bar verifying all requirements of state laws have been met
- Provide verification of $3,000 surety bond
- Enclose one-time application fee of $200 and licensing fee of $100
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