How much does a professional solicitor surety bond cost in South Carolina?
The South Carolina Public Charities Division requires professional solicitors to post $15,000 surety bonds.
SuretyBonds.com offers these bonds for varying costs depending on a review of the applicant’s personal credit report. Applicants with strong financial credentials could pay as low as 1% of the bond amount, or just $150! Our experts work hard to help all applicants qualify for the bonds they need quickly and easily regardless of financial credentials. Request your free bond quote now!
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Professional Solicitor Bond||$15,000||Starts at $150||$600-1,200||$1,500+||Apply Now|
We can typically provide your free bond quote within 1 business day of submitting your application. Call 1 (800) 308-4358 or click here to connect with our team of bond experts!
Why do I need this bond?
By posting a South Carolina professional solicitor bond, principals (solicitors) pledge to comply with all provisions of the South Carolina Solicitation of Charitable Fund’s Act and with all applicable rules and regulations. Prohibited acts under this bond include:
- making statements that funds are being solicited for a charity or that they will be used for charitable purposes when that is not the case
- not placing each contribution in its entirety in an account at a bank or other federally insured financial institute in the account name of the charitable organization or sponsor
- having access to withdraw any deposited funds from the account
- not maintaining proper records of each solicitation
- using the contributions collected for personal gains
If the principal fails to comply with the terms of the surety contract, the bond protects any person who suffers financial loss as a result of the principal’s actions.
What’s the fine print?
Professional solicitor surety bonds in South Carolina remain in full force and effect until canceled. The surety can terminate the bond by providing written notice of cancellation to the Secretary of State. This notice must be forwarded to the principal and becomes effective 30 days after the state receives it.
How to become a licensed solicitor in South Carolina
To become a licensed solicitor in South Carolina, applicants must:
- complete and submit the license application as well as all lists, attachments and documents requested in the application packet
- have the application signed by the CEO/President and the CFO/Treasurer
- include the $50 filing fee payable to South Carolina Secretary of State
Complete licensing information can be accessed from the Additional Resources section of this page.
Take the first step toward becoming licensed in South Carolina by purchasing the surety bond you need. The SuretyBonds.com experts make the bonding process fast and easy!
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