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Virginia Extended Service Contract Provider Bond

The Virginia extended service contract provider bond is required by the Department of Agriculture and Consumer Services. Amounts range from $10,000 to $90,000. Please call AmeriPro Surety Bonds today at 844-589-9732.

Virginia Extended Service Contract Provider Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Extended Service Contract Provider License – Virginia

 

 

 

The Virginia Department of Agriculture and Consumer Services regulates extended service providers in the Commonwealth.

A condition of licensing is that a minimum $10,000 surety bond is required.

AmeriPro Surety Bonds provides this surety bond in the amount required as both a new and renewal surety bond.

 

 

 

Virginia Extended Service Contract Provider Bond: Amount Required

 

 

 

While the minimum amount of the Virginia extended service contractor provider bond required is $10,000, the amount that a company licensee will require is based upon the dollar value of unexpired extended service contracts.

The breakdown for surety bond amounts is as follows:

Up to $50,000                                  $10,000 surety bond

$50,001-$300,000                           $40,000 surety bond

$300,001-$750,000                         $65,000 surety bond

$750,001 and up                             $90,000 surety bond

 

 

 

The Premium, or Cost to You

 

 

 

Applicants for the Virginia extended service contract provider bond will have a premium amount determined by the following:

  • Amount of the surety bond required;
  • Information provided on a surety bond application;
  • A credit score.

As a broad general rule, an applicant with good credit may typically expect to pay about 1% for the surety bond amount required; however, amounts will vary based upon any and all of the three factors listed above.

 

 

 

The Purpose of this Surety Bond

 

 

 

The Virginia extended service contract provider bond is a financial guarantee which ensures your compliance with the Extended Service Contractor Act.

The bond also protects customers of any employees, managers, or agents of an extended service contractor provider who is shown to have violated provisions of the Act which in turn causes some harm.

As principal of this surety bond, you and your company are liable if any claims were ever paid against your surety bond.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary surety bonds throughout Virginia and nationwide.

Please call our agency today at:

 

 

 

844-589-9732

 

 

 

Or, you may fill out our form below and an 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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