For the state of Wisconsin, the seller of checks surety bond is alternately referred to as a Wisconsin money transmitter bond.
In Wisconsin, a seller of checks license allows you to:
While licensing is regulated by the Wisconsin Department of Financial Institutions, the filing of your seller of checks license and surety bond are accomplished through NMLS (Nationwide Mortgage Licensing System).
Once purchased, our agency can file electronically file the seller of checks surety bond on your behalf.
The Wisconsin seller of checks bond is a surety bond which is computed as follows:
Up to $50,000, AmeriPro Surety Bonds offers you the Wisconsin seller of checks surety bond as an instant issue surety bond.
You benefit because after the completion of the application, and payment of the premium, the bond is issued to you immediately and can be filed on your behalf.
There is no credit score inquiry with our agency for amounts up to $50,000.
For any amount required above $50,000, a streamlined processing is available for established businesses which are at least 3 years old and meet other criteria; however, even for those who don’t qualify, the surety bond application is a standard process.
Such process involves a review of the application by underwriters and a business or credit score inquiry which will determine pricing.
Besides the standard one year premium option (your surety bond will need to be renewed within one year from the date of issuance), this seller of checks surety bond can be prepaid up to 2 or 3 years.
While the decision to prepay the bond is entirely up to you, doing so offers you a savings over year to renewal of the surety bond premium payment.
The Wisconsin money transmitter bond is a financial guarantee which ensures your compliance with all statutes, rules, and regulations governing money transmitting.
This applies specifically to Chapter 217 of the Wisconsin legislative statutes. The bond’s provisions guarantee that payment will be made for any check, draft, money order which you have issued and for which payment was not made.
As principal, if it were to occur, you are responsible to indemnify the surety for any claims paid against your bond; however, the aggregate total of such claims will not exceed the amount of the bond, excluding potential attorney fees and costs.
AmeriPro Surety Bonds is a surety bonds only agency. Our company provides surety bonds of all types throughout Wisconsin. We are also a nationwide online surety agency.
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