Vermont Litigation Funding Provider Bond Guide
If you’re registering to become a consumer litigation funder in Vermont, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure legal and ethical litigation funding activities
- Who Needs It: Investors funding legal cases in Vermont
- Regulating Body: The Commissioner of Financial Regulation
- Required Coverage: $50,000
- Premium Rate: 1–10% based on credit score
Learn all about the bond requirements and process in this guide.
What Is a Vermont Litigation Funding Provider Bond?
A Vermont litigation funding provider bond financially enforces legal and ethical litigation funding practices.
The Commissioner of Financial Regulation requires this bond as part of the licensing process for legal funding providers in the state.
How Much Do Litigation Funding Provider Bonds Cost in Vermont?
Vermont litigation funding provider bonds cost a small percentage of the bond amount, typically 1–10%. That means you could pay as low as $500 for the $50,000 bond with excellent financials.
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 Litigation Funding Provider Bond?
The Commissioner of Financial Regulation requires this $50,000 surety bond for any party that provides litigation funding to a consumer.
Alternatively, you can file a $50,000 letter of credit. However, a surety bond is typically the most affordable and efficient financial security option.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Vermont litigation funding provider 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 upload the bond directly to the NMLS on your behalf and send you email confirmation.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Vermont Litigation Funding Provider Bond Work?
As with all surety bonds, a litigation funding provider bond creates a legal contract between three parties:
- Principal: You, the legal funding provider filing the bond
- Obligee: The Commissioner of Financial Regulation requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the Vermont Consumer Litigation Funding Companies Act.
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 litigation funding provider bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
