Brokers who arrange for transport of passengers within Pennsylvania must be licensed to do so. They are regulated by the Commonwealth’s Public Utility Commission (PUC).
As a condition of licensing, if you are a passenger broker in Pennsylvania, you are required to post a $10,000 surety bond with the PUC.
AmeriPro Surety Bonds offers this bond for you for both first time licensees and those who need to renew their existing license and bond.
The purpose of the Pennsylvania passenger broker bond is a financial guarantee which ensures that a licensed passenger broker or brokerage will follow all laws in the conduct of their professional duties.
More specifically, the surety bond protects your clients from acts of fraud, theft, criminal misrepresentation or malfeasance committed by a passenger broker, or any employees, managers, or owners, in their conduct with the public.
The bond’s existence allows those who can demonstrate financial harm to file a claim against the bond. The $10,000 amount is the total sum from all claims that a surety would potentially pay.
But the surety bond is not an insurance policy.
Should the surety pay a claim on the passenger broker bond, as the bonds principal, you are legally obligated to indemnify the surety for all costs, fees, and amounts paid on any claim on your surety bond.
You will pay nowhere near the $10,000 amount for your passenger broker bond.
The amount for your passenger broker bond will likely be just above 1% of the bond’s face amount.
The price you will pay for this surety bond will be determined by an application, which we can accept directly over the phone.
Once issued, the bond is active for one year and must be kept active as a condition for licensing.
Our surety will send you a renewal reminder usually some 60 days before the bond’s renewal date.
AmeriPro Surety Bonds is a surety bonds only agency.
Our agency provides license and permit, contractor, court and fiduciary bonds throughout the Commonwealth.
We also provide thousands of surety bonds nationwide.
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