How much does a telemarketing bond cost in Utah?
Utah’s Division of Consumer Protection and the Department of Commerce requires telemarketers to post $50,000 surety bonds prior to soliciting goods and services. The state might require a $75,0000 bond if the applicant has a prior violation of the law on record.
The cost of a Utah telemarketer bond is subject to review by an underwriter and will be based on the applicant’s qualifications.
Why do I need this bond?
Utah telemarketing surety bonds are put in place to guarantee that all telemarketers comply with state laws as outlined in Title 13, Chapter 25A of the Utah Code. If consumers are wronged as result of the principal’s unlawful business practices, the bond protects them from financial loss up to the full amount of the bond. The principal must reimburse the surety for all damages paid out.
What’s the fine print?
Telemarketer bonds in Utah remain in full force and effect until canceled. These bonds can be renewed from year to year by continuation certificate executed by the surety. The surety can cancel the bond at any time by giving written notice of cancellation to the Division of Consumer Protection at least 90 days prior to the effective termination date.
How to become a telemarketer in Utah
A Utah telemarketing license and telemarketing bond are required before the telemarketer can call into (or from) Utah. The Utah telemarketing license fee is $500. The Utah telemarketing bond amount is normally $50,000 unless you have prior telemarketing violations within the previous 3 years, in which case the bond amount is $75,000. The Utah Division of Consumer Protection reviews telemarketer applications for compliance with Utah telemarketing law. The Division seeks to ensure that a telemarketing applicant will use compliant scripts, cancellation rights, etc.