Update 2020: Our agency now offers both the $10,000 and $50,000 Texas telephone solicitor bonds without a credit check. The $10,000 surety bond is offered for a $150 annual premium; the $50,000 surety bond is offered for a $750 annual premium.
By statute, Texas telephone solicitors are regulated by Title 10, Chapter 302 of the Business and Commerce Code.
They must also be registered with the Texas Secretary of State.
The Secretary also requires Texas telephone solicitors to obtain the required surety bond, for which the state is the obligee.
An obligee is an entity or person who is requiring a surety bond.
In this case, the surety bond is required by the Secretary of State as a prerequisite for licensing.
The purpose of the Texas telephone solicitation bond is to protect others, that is the consumers, who are harmed by a breach of an agreement made by a telephone solicitor.
More broadly, the bond is required to protect others from acts of fraud, theft, or criminal malfeasance committed by a telephone solicitor, its, employees, or owners, in the course of their duties.
The Texas telephone solicitation bond is $10,000.00.
The bond is issued for a period of one year, and must be renewed on an annual basis as a condition for keeping the license active and current.
The premium for this surety bond is going to be a small percentage, perhaps 1-3% or $100 to $300 of the $10,000 surety bond amount.
The amount an applicant will pay, however, may be determined by a credit check.
All things considered, however, this is a low priced surety bond.
And our agency will always work to find you the best surety bond pricing available regardless of any credit issues, if applicable.
Licensing for a telephone solicitor is rather straightforward:
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary surety bonds throughout Texas --- and nationwide.