Massachusetts Professional Solicitor or Fundraiser Bonds
Massachusetts Fundraiser or Solicitor Bond Information
A $25,000 Professional Solicitor Bond is required by The Massachusetts Office of the Attorney General of telemarketers, telephone solicitors and other fundraisers operating in the Commonwealth of Massachusetts. Like most license and permit surety bonds, the purpose of the bond is to protect consumers from fraudulent actions or regulatory and compliance violations committed by the solicitor.
What Does a Professional Solicitor Bond Protect Against?
THe bond protects consumers in the event that the bonded prinpcipal does not comply with the provisions of sections eighteen to thirty-five of chapter sixty-eight of the General laws and the acts and all amendments and supplements. Specifically, the bond protects against unlawful acts including, but not limited to, fraudulent business practices, failure to provide annual reports, false statements, and improper record keeping.
The telemarketing industry is unique in that many new restrictions, guidelines and laws have been enacted in recent years, creating a complex and difficult operating environment for many telemarketing businesses. As a result, bond claim activity has increased due to growing confusion about what can or cannot be done within the ever-changing regulatory climate.
Unfortunately, this can result in higher bond costs for industry participants. The bond experts at Surety Bond Direct are experienced in navigating these challenges in order to secure the lowest bond cost in the market for your particular situation.