The West Virginia Department of Tax and Revenue is the Department which licenses and regulates telemarketing solicitors.
A condition of licensing is that at least one $100,000 surety bond be filed with the department. An additional $100,000 surety bond amount is required for each additional office; however, the cap is $500,000 surety bond.
Qualifying for the West Virginia telemarketing solicitor bond is by means of completion of an application --- which we can pre-fill with you over the phone --- but which will also require your signature before review by an underwriter. This review will include a credit score inquiry.
Good credit is required to be approved for this surety bond, and the premium, if approved will be 1% of the bond’s amount.
The difference between qualifying for the $100,000 surety bond and any other amount is that amounts greater than $100,000 will also require a recent financial statement from you as part of the underwriting process.
Once the premium is paid, our agency issues your surety bond to you immediately. Your telemarketing solicitor bond, along with the Power of Attorney form, will be sent to you for signing (your surety bond as Principal) and filing (both documents) with the Department of Tax and Revenue.
Each surety bond amount has the option to prepay your bond for up to 3 years. Prepayment of your premium offers you a savings over renewing annually, in addition to lengthening the time between renewals.
Larger bond amounts will have even bigger savings.
This telemarketing surety bond is issued as a financial guarantee of your compliance with §46A-6F-302, which essentially protects consumers from any harm caused by unlawful telemarketing activity. You are also held responsible under the West Virignia Telemarketing Solicitor Act.
AmeriPro Surety Bonds provides telemarketing surety bonds nationwide. We also provide license and permit surety bonds.
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