Lottery retailers in Arkansas are regulated by the state’s ASL, Arkansas Scholarship Lottery. A condition of licensing with the state as a lotto retailer is that if you have been informed that you do not qualify for self-bonding, you must obtain a surety bond.
The amount of the surety bond required will be specified for you by ASL. Apparently, there is no pre-established number. A guideline is that the amount of surety required will not exceed the district average of two tickets for 2 billing periods.
Qualifying for the Arkansas lottery retailer bond involves completing an application – which we can take from you over the phone, but which you’ll also need to eventually sign before receiving your bond --- and submitting to a credit check. It will be up to you to inform us of the amount of surety you require.
An applicant will need good credit in order to be approved.
If you are approved for this bond, you will pay 1% of the bond’s amount as premium, or $100, whichever amount is the greater.
Upon payment of the premium, the bond will be sent to you by the same or the following business day.
The bond is issued with a term of one year. You may wish to first check with the ASL to see if you are required to renew the bond, and if you are, for what amount. If you choose not to renew your bond upon the anniversary of its issuance, it will lapse.
This bond is a financial guarantee that you will be in compliance with all rules and statutes governing lottery retailers. The bond protects the ASL and any consumers who are harmed by fraudulent behavior on the part of a licensed retailer.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Arkansas.
Our agency also provides surety bonds nationwide. Please call us today at:
Or, you may fill out the form below and an agent will contact you...