Louisiana Professional Employer Organization Bond |
AmeriPro Surety Bonds| 844-589-9732
The Louisiana employee leasing surety bond, required of PEO companies (Professional Employer Organizations), is a $100,000 surety bond.
The bond is required as a condition of licensing by the Louisiana Workforce Commission, which is the entity requiring the surety bond.
The bond is issued with a period of 3 years, and the premium reflects this lengthy surety bond term.
Qualifying and the Premium
Qualifying for the Louisiana professional employer organization bond is by means of a surety bond application and a credit inquiry. Because of the bond’s large size — $100,000 — and the duration of the bond — 3 years — you may be asked to provide financial information as part of the underwriting process.
The premium amount for the issuance of this bond, if approved, will vary considerably depending on a number of factors, but particularly your credit rating.
Our agency will work to find you fair premium pricing for this bond; however, we do not offer payment plans. The 3 year premium will need to be paid in full before the bond is issued.
Some questions which may be asked as part of the underwriting process include:
- Whether or not you have ever filed bankruptcy;
- Whether you have ever had a bond canceled or denied;
- Whether you have any unsatisfied liens or judgments;
- Whether or not you are involved in any current lawsuits.
Purpose of Your Surety Bond Requirement
The purpose of this bond is a financial guarantee which ensures your requirement with all laws of employee organizations in Louisiana, and particularly Act 1150 of the 2001 Regular Legislative Session and any amendments to this law.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit surety bonds throughout Louisiana. Our agency also provides surety bonds nationwide.
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