1 (844) 589-9732

South Dakota Buying Club Bond

The $100,000 South Dakota buying club bond will have a premium of $1000, annually. Good credit is required. Please call AmeriPro Surety Bonds at 844-589-9732.

South Dakota Buying Club Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

South Dakota Buying Club License

 

 

 

A buying club in South Dakota is statutorily defined as a club whose purpose is to provide its members cooperative services and merchandise.

A condition of licensing with the state is that you provide a $100,000 surety bond. The requirement is as of the state of South Dakota, Business Licensing.

 

 

 

Qualifying and the Premium

 

 

 

As an applicant for the $100,000 South Dakota buying club bond, you will be required to complete an application — which we’ll begin with you over the phone — but which you’ll also need to complete, sign, and have witnessed.

As part of the underwriting process, a business or personal credit check inquiry is required. This will typically take a few hours from the time a completed application has been submitted.

Approval for this bond is based upon good credit, and the premium is 1%, $1000 annually.

Upon approval of your buying club bond and payment of the premium, our agency issues your bond, along with a Power of Attorney (POA) form to you immediately.

Upon receipt by mail, you’ll sign your bond as Principal, filing it along with your POA form to:

State of South Dakota – Business Licensing

Capitol Building

500 E. Capitol Avenue

Pierre, South Dakota 57501

 

 

 

Premium Prepayment Options

 

 

 

At $1000 premium your SD buying club surety bond is active for one year. Thereafter, your bond renews.

Our agency also provides you with the ability to prepay your bond up to 3 years. Prepayment of the premium saves you over annual renewals. Plus, you get to lengthen the time between renewals as well.

The premium prepayment option and savings are as follows:

  • If prepaid for 2 years, the premium is $1800, a $200 savings;
  • If prepaid for 3 years, the premium is $1600, a $400 savings.

 

 

 

Purpose Of This Surety Bond Requirement

 

 

 

The purpose of this surety bond requirement is to serve for the benefit of any members of the club who incur a prepayment loss due to:

  • The insolvency of the buying club business;
  • The ending of business of the buying club.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court and probate surety bonds throughout South Dakota.

Our agency is also a provider of required surety bonds on a nationwide level.

Please call us today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will contact you…

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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