Texas For-Profit Legal Service Contract Bond |
AmeriPro Surety Bonds | 844-589-9732
AmeriPro Surety Bonds provides new and renew surety bonds for licensed for-profit legal service contract companies.
Below, we explain what this surety bond is all about.
Texas For-Profit Legal Service Contract Companies
A for-profit legal services contracts company is a company which is contractually obligated to provide legal services for another company, the latter of whom has obtained the contract to provide legal services for their employees or consumer.
In Texas, for-profit legal services contract companies must be licensed.
Licensing and regulations for these companies are handled by the Texas Department of Licensing and Regulation (TDLR).
Texas For-Profit Legal Service Contract Bond: Amount Required
According to §953.101 of the laws which govern Texas for-profit legal service contract companies of the, the amount of surety bond required by the TDLR is to be calculated as follows:
- A for-profit legal services contracts company which has less than $300,000 annually in company revenue is required to post a $50,000 surety bond;
- A Texas for-profit legal services contracts company which has between $300,000 to less than $750,000 company revenue is required to post a $75,000 surety bond;
- A Texas for-profit legal services contracts company which has $750,000 or more in annual revenue is required to purchase a $100,000 surety bond.
Texas For-Profit Legal Service Contract Bond: The Purpose of this Surety Bond
A Texas for-profit legal service contract bond is required by the state to protect the consumer from fraudulent, illegal, or harmful acts committed by this type of company, its owners, managers, or employees in the course of their business duties.
This surety bond, then, only protects others from wrongful acts of a licensed for-profit legal service contract company; it does not protect the company itself at all.
Texas For-Profit Legal Service Contract Bond: Cost of this Surety Bond
The price of this surety bond will be a very small percentage of the overall bond amount.
The price – also known as “the premium” – you will pay for the bond will be determined by two simple factors:
- The dollar amount of the bond that you are required to purchase;
- The applicant’s credit score.
AmeriPro Surety Bonds will always work to find you the best pricing for this and any Texas surety bond required, regardless of your credit history.
Becoming Licensed as a For Profit Legal Service Contract Company in Texas
Applicant companies for the licensing with TDLR will be required to complete the following to:
- A fully completed licensing application;
- The appropriate nonrefundable filing fee: $250 – $500 – or $750;
- Copies of all marketing materials to be used in the solicitation of business;
- Audited financial statements for the company’s most recent fiscal year;
- The surety bond required in the amount discussed above.
AmeriPro Surety Bonds
Our goals for you at AmeriPro Surety Bonds are simple:
We want to:
- Provide you with professional surety bond service;
- Obtain the best pricing for your surety bond;
- Have all of this done as quickly as possible for you.
To that end, AmeriPro Surety Bonds has one focus: Surety bonds.
Our surety bond-only agency provides license and permit, contractors, court, and fiduciary bonds throughout Texas.
We also provide surety bonds nationwide.