What is a Florida Credit Service Organization Bond?
The Florida Credit Service Organization Bond is requirement for all credit service organizations. This surety bond acts as a broker/agent in order to secure an extension of credit for a borrower, in accordance with Section 817.7005 of Florida Statutes and the Florida Department of Banking and Finance. The required bond amount is set at $10,000.
A credit service organization is defined as any person who, with respect to the extension of credit by others, sells, provides, performs, or represents that he or she can or will sell, provide or perform, in return for the payment of money or other valuable consideration, any of the following services:
- Improving a buyer’s credit record, history or rating
- Obtaining an extension of credit for a buyer
- Providing assistance or advice to a buyer with regard to the services rendered
How do I obtain a Florida Credit Service Organization Bond?
Surety Solutions Insurance Services Inc was established in 2003. Although our headquarters are located in California, we are actually licensed in all 50 states. We have also partnered with several surety markets to ensure that we would only offer the best rates for all our clients. Our application processing time is also very fast, with some applications taking just a business day to get approved!
If you wish to get this surety bond from us, please fill out and submit an online application form. You will then be contacted by our licensed agents who will give a no-obligation quote for your bond. If you find the price to your satisfaction, just pay the said amount and sign all the paperwork. We will then send the surety bond through USPS Priority Mail or overnight delivery.
With an A+ rating from the Better Business Bureau, you can only expect the best service from us here at Surety1.