Florida Money Services Business Bond

The Office of Financial Regulation requires money service or transmitter businesses acting as Part II Licensees pursuant to Chapter 560, Florida Statutes to furnish a corporate surety bond. The surety bond is conditioned upon the bonded principal's conformance with Chapter 560, Florida Statutes. The Office of Financial Regulation, the Department of Legal Affairs, or any individual claimant may file a claim against this bond in the event of the principal's failure to faithfully perform obligations including the receipt, handling, transmission, and payment of funds. The bond is commonly in a penal sum of $50,000 and it runs continuously until cancelled by the surety company with 30 days written notice to the State of Florida, Office of Financial Regulation.