Alabama Professional Fundraiser or Commercial Co-Venturer Bond

Alabama Professional Fundraiser Bond

The $10,000 Professional Fundraiser or Commercial Co-Venturer Bond is required by the State of Alabama Office of the Attorney General, for anyone registering to solicit contributions on behalf of a charitable organization. The surety bond, provided by Jet Insurance Company, guarantees damages are paid to the Attorney General Office or the public, resulting from theft and other fraudulent or negligent actions of the fundraiser or co-venturer.

VIEW YOUR BOND PRICE

With Jet, the bond process is quick and straightforward. If you are applying for your first-time registration or renewing your registration, Jet will help you obtain the required bond.

What Is the Cost of the Professional Fundraiser or Commercial Co-Venturer Bond?

Our rates start as low as $100 for one year or $10 monthly. A soft credit check must be completed to determine an appropriate rate, but don’t worry it won’t affect your credit score. The chart below shows payment terms for someone with preferred credit.

Bond TermCost
Monthly$10
1 Year$100
2 Years$175
3 Years$250
Alabama Fundraiser Bond Rates

Jet is the only surety company that offers a monthly payment option for the Professional Fundraiser or Commercial Co-Venturer Bond in Alabama. With the monthly option, you can lock in a rate for years and don’t have to worry about future renewals.

Why Is the Alabama Professional Fundraiser or Commercial Co-Venturer Bond Required?

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The State of Alabama Office of the Attorney General is responsible for regulation of various businesses, including professional fundraisers and commercial co-venturers. The bond is one requirement for registration, which brings in a third party (Jet) to financially guarantee the protection of Alabama’s public from fundraiser and co-venturer misfeasance or malfeasance leading to financial harm. For example, a professional fundraiser that chooses to keep contributions rather than give them to the charitable operation may see a claim on the bond.

Certain people are exempt from registration, and therefore do not need a bond. You can find those exclusions in subsection (f) of Section 13A-9-71 of the Code of Alabama, 1975.

How to Apply for the Professional Fundraiser or Commercial Co-Venturer Bond With Jet

Applying can be done in a matter of minutes! Just submit the necessary information, including your social security number for the soft credit check. Often, you will be approved for a rate and be able to purchase the bond immediately. Sometimes, a further review of information is needed, but if that’s the case Jet will email you an approved rate shortly. Upon purchase, a copy of the bond and your receipt is emailed to you.

How Is the Professional Fundraiser or Commercial Co-Venturer Bond Filed?

You can upload the bond right to the Office of the Attorney General’s web portal using your credentials! If you prefer that Jet mail in the bond for you, just let us know and we will send it to the following address:

State of Alabama
Office of the Attorney General
PO Box 300152
Montgomery, AL 36130

Can I Cancel My Professional Fundraiser or Commercial Co-Venturer Bond and Get a Refund?

The bond can be cancelled with Jet at any time! Keep in mind that cancellation should only be done if a new bond must replace the cancelled bond, or if you have completed your time as a fundraiser or co-venturer. Failure to upkeep the bond may result in registration revocation. 

When you are ready to cancel, just email us at [email protected]. We will notify the Attorney General Office of the cancellation and then wait for confirmation to proceed. If you paid for the bond up front, Jet will evaluate if there is any unused premium left on the bond to be reimbursed to you. Monthly payments have no refund available, but the payments will be stopped upon Jet receiving cancellation confirmation from the Office of the Attorney General.

How to Renew the Alabama Professional Fundraiser or Commercial Co-Venturer Bond

The bond must be on file for the duration of your registration. If you are paying monthly, there is no renewal process! As long as Jet continues to receive payments, the bond will stay active. If you paid for the bond in full up front, Jet will send you a renewal notice via mail and email prior to the bond’s expiration.

How Does a Principal Avoid Alabama Professional Fundraiser or Commercial Co-Venturer Bond Claims?

Following the Code of Alabama, 1975, Title 13A, Chapter 9, Article 3 (Charitable Fraud), ensures compliance with the regulations and therefore minimizes the likelihood of a claim. Basically, don’t commit theft or other deceitful actions while operating as a professional fundraiser or commercial co-venturer and you should be fine. 

Theft of the charity will result in penalties, as follows:

Degree of Charitable FraudTheft AmountPenalty
Charitable Fraud in the First DegreeExceeds $2,500Class B Felony
Charitable Fraud in the Second DegreeExceeds $500 but less than $2,500Class C Felony
Charitable Fraud in the Third DegreeLess than $500Class A Misdemeanor
ALABAMA FUNDRAISER PENALTIES

In addition to the above penalties, any violation of Article 3 can result in civil penalties up to $5,000 for each violation. Typically, penalties will be assessed prior to a claim on the bond. Failure to cooperate will result in a bond claim payout.

Any person or entity financially harmed due to a fundraiser or co-venturer’s actions can file a claim on the bond.

What Happens if I Get an Alabama Professional Fundraiser or Commercial Co-Venturer Claim?

Notify Jet immediately. Although the Office of the Attorney General and Alabama courts will probably do a thorough job investigating prior to issuing a bond claim, Jet still does our due diligence by reviewing all the details. We will need whatever information you can provide.

Any valid claims will be paid out to the claimant, up to the full $10,000 bond limit. Jet will need to be reimbursed for the amount paid out as the bond acts as an extension of credit and you are ultimately responsible for your actions as a registered professional fundraiser or commercial co-venturer. Failure to restore the bond to the full limit will result in future registration complications.

Alabama Professional Fundraiser Bond Form

Notary Bond Application:

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: