Rhode Island Debt Management Services Bond
AmeriPro Surety Bonds | 844-589-9732
Rhode Island Debt Management Services License
Rhode Island’s Department of Business Regulation requires debt management services businesses to file a $50,000 surety bond as one of the conditions of licensing. Statutorily, the Department can require a greater surety bond amount.
Your bond, once purchased through our agency, can be electronically filed on your behalf to NMLS, the Nationwide Mortgage Licensing System.
Qualifying and the Premium
You are automatically approved for the $50,000 Rhode Island debt management services bond. There is no credit inquiry nor review by an underwriter, and the premium is just $500 annually.
When you call us, we’ll just ask you the following, which is essentially the basics:
- The name exactly as it should read on your surety bond;
- Your contact information, including address, email, and a phone number;
- Whether you want us to electronically file the bond on your behalf, or if you prefer to do it yourself. If it is the latter, then we will mail the bond documents to you after issuance.
After payment of the $500 premium, our agency will issue the bond to you immediately.
The address of the Department of Business Regulation is:
State of Rhode Island Department of Business Regulation
Division of Banking
1511 Pontiac Avenue, Building 68-2
Cranston, Rhode Island 02920
Premium Prepayment Options
The $500 premium associated with your debt management services bond is good for one year. Thereafter, the bond renews.
You also have the option to prepay your bond up to 3 years. Prepayment of the premium offers you a savings over year to year renewal of your bond (and payment of your premium).
The premium prepayment options and savings are as follows:
- If prepaid for 2 years, the premium is $900, a $100 savings;
- If prepaid for 3 years, the premium is $1300, a $200 savings.
Purpose of Your Surety Bond Requirement
Your surety bond is a financial guarantee of your business and professional compliance with the Rhode Island Debt Management Services Act , as amended.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide debt management services surety bonds nationwide where required.
Our agency is also a provider of license and permit, probate, and court surety bonds in all 50 states.
Please call us today at: