Kentucky Business Opportunity Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond & Purpose
Businesses or companies which sell business opportunities in Kentucky — essentially franchises — must be in compliance with the state’s Kentucky Business Opportunity Act.
A prerequisite to licensing is that applicants obtain a $75,000 surety bond. The bond is a financial guarantee which protects those who are harmed by violation of Kentucky Revised Statutes 367.801 – 367.819, as amended.
More generally, the bond guarantees your compliance with all laws regulating business opportunities as offered in Kentucky.
Qualifying and the Premium
Obtaining the $75,000 business opportunity bond includes completing a short surety bond application. Our agency can begin the application with you by phone, but you’ll need to both complete, sign, and have witnessed, the application. Your application does not need to be notarized, however.
After submitting the application to us, it is reviewed by an underwriter. This review process includes a credit check inquiry.
Approval is determined on the basis of satisfactory credit; and the approval rate is 1%, 750, annually.
Upon approval of your application, and payment of the premium, your business opportunity bond is issued to you immediately.
You will be issued both a surety bond and a Power of Attorney form, the former of which you will sign as principal. Our agency will sign your bond as Surety.
All completed and signed documents will be mailed by you to:
Commonwealth of Kentucky
P.O. Box 1303
Frankfort, Kentucky 40602
Annual Renewal of the Premium
The premium associated with your business opportunity bond renews annually on the anniversary of its issuance.
Applicants may qualify to have the bond waived entirely after having demonstrated no claims for bonding for several years. You will need to check with the number above to see if this applicable to you.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Kentucky and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…