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Florida Money Transmitter or Money Services Business Bond

Florida Money Transmitter or Money Services Business Bond

www.suretybondsdirect.com/surety-bond/money-transmitter-bond/fl

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Who Requires the Money Transmitter or Money Services Business Bond and Why Is It Needed?

The Office of Financial Regulation requires money service 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.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Florida Money Transmitter or Money Services Business Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

This surety bond protects the Florida Office of Financial Regulation, Department of Legal Affairs, and any other party bringing a valid an action against the bond due to failure of the bonded principal or its authorized vendors to perform obligations of receipt, handling, transmission, or payment of funds.




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Surety Bonds Direct, LLC, Bonds Surety & Fidelity, Charleston, SC
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