Virginia Attorney Settlement Agent Bond |
AmeriPro Surety Bonds | 844-589-9732
Attorney Settlement Agents – Virginia
Settlement agents in Virginia have been alternately referred to as attorney settlement agents and title settlement agents; they all refer to the same profession.
Along with registration to Bureau of Insurance, evidence of a surety bond must also be filed. The profession is administered by the Commonwealth of Virginia State Corporation Commission.
AmeriPro Surety Bonds provides the settlement agent bond in the amount required by statute.
Virginia Attorney Settlement Agent Bond: Qualifying; Premium
To qualify for this $200,000 surety bond, you will be required to:
- Complete an application. We can begin the application with you over the phone, so much of it is complete; however it will require your signature before review;
- Provide us with a recent financial statement to submit along with your application;
- Undergo a credit check. Only applicants with good credit will be approved by our agency.
If approved, the premium will be $1000, annually, which is 1/2 of 1%.
Additional Premium Payment Options
At $1000 premium, your surety bond will renew on the anniversary of its issuance. Our agency also offers you the option to prepay your bond for up to 3 years, thereby saving you over annual renewals. The premium prepayment amount — 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 $2600, a $400 savings.
The Purpose of Your Surety Bond Requirement
The purpose of the Virginia title settlement agent surety bond is a financial guarantee which ensures your compliance with all laws regarding title settlement within the Commonwealth.
This bond protects against acts of fraud, theft, or criminal malfeasance in the performance of your professional duties. According to 15VAC5-80-50, the bond form must be approved by the Virginia State Bar before filing.
The protections afforded by means of this bond also extend to wrongdoing committed by any employees, agents, or managers of your title settlement company.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, and court surety bonds throughout Virginia. We also provide surety bonds nationwide.
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Or, you may fill out the form below and an surety bond agent will contact you….