California Discount Buying Organization Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of California Discount Buying Organizations
California discount organization are statutorily defined as groups which are formed to allow their members to purchase good or services at a discount to regularly advertised or offered prices.
Such groups must furnish a $20,000 surety bond to the California Secretary of State.
Qualifying and the Premium
As an applicant for the $20,000 California discount organization bond, you are automatically approved. The premium is $200 annually, and there is no credit check.
Obtaining your bond is easy.
When you call us, we’ll just ask you the name that should appear on your bond. This name should match the paperwork that you’ll be filing with the Secretary of State.
We’ll also need any D.B.A. names as these are included on your surety bond as well.
After providing with your contact information and paying the $200 premium, the bond is issued to you.
In the mail you’ll receive the following: Your surety bond, along with a Power of Attorney and a notarized jurat form.
Upon receipt, you’ll sign your bond as Principal and file it to:
State of California
P.O. Box 944225
Sacramento, CA 94244
Premium Prepayment Options
The premium associated with your $20,000 discount organization bond renews on the anniversary of its issuance. An active surety bond is a condition for continued licensing by the state of California.
You may also prepay your bond up to 3 years, thereby offering you a savings over annual renewals.
The premium prepayment option and savings are as follows:
- If prepaid for 2 years, the premium is $360, a $40 savings;
- If prepaid for 3 years, the premium is $520, an $80 savings.
Purpose of Your Surety Bond Requirement
The California discount organization bond is a legal guarantee of your compliance with Section 1812.100 of the California Code, as amended.
The bond is a protection for the public against acts of fraud, theft, deceit, and other acts of malfeasance by a discount organization and any employees and representatives.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and probate surety bonds in all 50 states and Washington D.C.
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