Georgia Employee Leasing Bond |
AmeriPro Surety Bonds | 844-589-9732
Georgia Employee Leasing Companies
The Georgia Department of Labor requires employee leasing companies/agencies to furnish the Department with evidence of a surety bond. This is required as a condition of licensing with the Department.
AmeriPro Surety Bonds offers the surety bond in whatever amount you require. We offer the bond as both a new and renewal surety bond.
Qualifying and the Premium
Up to and inclusive of a $50,000 surety bond requirement, our agency provides you with this surety bond without a credit check or an underwriter review. The premium is just 1%, with a minimum $100 requirement. Amounts greater than $50,000 will require a signed application and an underwriter review. Included in this process for these larger amounts is a credit inquiry, and typically good credit will be required for approval.
When you call us, we’ll ask you the following information besides the amount of surety:
- The name, exactly as it should appear on your surety bond, along with your address, email, and phone number;
- Your Georgia DOL Number;
- The county where you operate your business
After approval of your bond and payment of whatever premium amount is required, our agency issues your bond to you immediately. The bond is sent along with a Power of Attorney (POA) form. Upon receipt, you’ll sign your bond as Principal, filing all documents to:
State of Georgia, Department of Labor
148 Andrew Young International Blvd., N.E.
Atlanta, GA 30303
Georgia Employee Leasing Bond: Amount Required
The amount of the employee leasing bond is based on a formula created by the Department.
- Employee leasing companies with no prior history are required to furnish a surety bond of $10,000.
A new company, with no prior history, that has obtained the $10,000 surety bond and has been in business for more than 6 months will have a surety bond amount amount for the following calendar year that is a pro rata based upon the 4 calendar quarters ending June 30th before the effective date of the next bond.
- An existing Georgia employee leasing company will furnish the greater of $10,000 surety bond, OR 2.7% of its taxable roll for the 4 calendar quarters before June 30th preceding the effective date of its surety bond.
OR, an exiting Georgia employee leasing company which has met certain reserve and tax conditions is allowed to furnish a $5000 surety bond.
You will ultimately provide us with the surety bond amount you require.
Georgia Employee Leasing Bond: The Purpose
The Georgia employee leasing bond is a financial required to secure your compliance with the Employment Security Law, particularly OCGA Sections 34-8-32, 34-8-33, 34-8-34 and 34-8-172.
The surety bond, while required of the employee leasing company, is designed to protect employees from any harm which occurs due to the failure of a company to comply with any statutory regulations.
The bond’s existence allows someone who can credibly prove harm to recoup losses.
As owner of the surety bond, any losses paid by the surety must be repaid by the principal (that would be you, as the surety bond’s owner).
Georgia Employee Leasing Bond: Premium and Bond Term
The premium for the surety bond will depend on several factors:
- The amount of the surety bond required;
- Information provided in a standard surety bond application;
- A personal credit score.
Once the premium is paid, the bond is active for one year from the date of issuance. A paid for surety bond is sent to you by the next business day to the address of your choosing.
Only an original employee leasing bond may be filed with the Department.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, court, contractor, and fiduciary bonds throughout Georgia.
Our agency also provides surety bonds nationwide.
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Or, you may fill out our form and an agent will contact you…