The Tennessee professional solicitor bond is alternately known as a Tennessee commercial co-venturer bond.
Professional solicitors are licensed and regulated by the Tennessee Secretary of State. Statutes concerning this profession are located under Chapter 1360-03-01 of the Rules of the Solicitation of Funds for Charitable Purposes.
A condition of licensing is that a surety bond must be filed and maintained with the Secretary.
The Tennessee professional solicitor bond is a $25,000 surety bond required by the Secretary of State.
Applicants for the professional solicitor/commercial co-venturer surety bond will complete a standard surety bond application.
Along with the application, there is typically a business or personal credit check.
As a broad general rule, a well-qualified applicant for this bond may about 1.5% annually; however, the price that you will pay will be determined by information supplied on your application and the accompanying credit check.
Once issued, the professional solicitor bond is active for one year from the date of issuance; thereafter, the bond must be renewed as a continued condition of licensing.
The Tennessee professional solicitor bond is a financial guarantee that your professional solicitor organization will be in compliance with all rules and statutes of the Tennessee Secretary of State.
While the surety bond is required of you, it is not an insurance policy. The policy protects consumers from acts of fraud, theft, or malfeasance involved in professional solicitation.
As principal for this bond, you are legally obligated to indemnify the surety for all costs and fees involved in claims paid against your bond, if such were the case.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit, court, and fiduciary surety bonds throughout Tennessee.
Our agency also provides surety bonds nationwide.
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