This surety bond is required by the Superintendent of the Bureau of Consumer Credit Protection of the State of Maine under MRSA Title 10, Section 1495-E. This surety bond ensures that the bond holder will conform to and abide by the state law and any regulations made by the Superintendent, as well as pay any fees due to the Superintendent in a timely manner. The required bond amount but is equal to the total of all local, state, and federal tax payments and unemployment insurance premiums processed by the payroll processor on behalf of employers in Maine in the 3-consecutive-month period of highest volume during the previous calendar year, or $50,000, whichever is greater (not to exceed $50,000). Surety1 can provide this bond at a competitive price regardless of the bond amount you need.
To Acquire a Maine Payroll Processor Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.