Nevada Check Cashing Deferred Deposit Bond

Nevada Check Cashing Deferred Deposit Bond

Check cashing services, high-interest loan providers, deferred deposit loan providers, and title loan providers in Nevada must file a Check Cashing Deferred Deposit Bond with the Nevada Financial Institutions Division as part of their licensing. The bond is used as a way to prevent the State of Nevada and its people from a licensee acting fraudulently or having incomplete payments or unpaid fees. 

APPLY FOR YOUR BOND

With Jet’s one-of-a-kind monthly payment plan, you can purchase your Check Cashing Deferred Deposit Bond for just a fraction of the cost. If you prefer less frequent payments, you can choose one of our annual or multi-year terms.

What Is the Cost of the Check Cashing Deferred Deposit Bond?

With Jet, the cost of the Check Cashing Deferred Deposit Bond starts at $50 a month or $500 a year for a $50,000 bond limit. Rates are dependent on a soft credit check and the bond limit, which is variable. The chart shows pricing for the preferred credit tier at different bond limits.

Bond LimitMonthlyCost
$50,000$50$500
$60,000$60$600
$70,000$70$700
Nevada Check Cashing Deferred Deposit Bond Rates

The bond limit is generally $50,000 for licensees but can be higher for those with branch locations. Each additional branch will raise the limit by $5,000 per location. 

Why Is the Check Cashing Deferred Deposit Bond Required in Nevada?

The Financial Institutions Division (a part of the Nevada Department of Business and Industry) set a surety bond requirement for license holders engaged in deferred deposit loans, title loans, high-interest loans, and check-cashing services to guarantee the payment of fees and other judgments that may become due as a result of a licensee violating Chapter 604A of the Nevada Revised Statutes. Action can be taken on the bond, which is paid out by the surety company (Jet) for the recovery of monetary losses. Any claims paid out must be paid back by the licensee.

Jet’s Application and Filing Process for the Check Cashing Deferred Deposit Bond

With Jet’s online application, it takes just a few minutes to apply! We only ask for the information needed to get you a quote, such as the required bond limit and your social security number since a credit check is required. Once your application is done, it will be submitted for a quick review and a Jet underwriter will email you an approved quote. If additional information is needed, it will be requested at this time. 

With Jet’s online application, it takes just a few minutes to apply! We only ask for the information needed to get you a quote, such as the required bond limit and your social security number since a credit check is required. Once your application is done, it will be submitted for a quick review and a Jet underwriter will email you an approved quote. If additional information is needed, it will be requested at this time. 

Once you receive your email, simply click the link to complete your purchase for your desired term. When checking out, you can select to have the original bond mailed to you to file with the Division or leave it to Jet. A digital copy of your bond and receipt will be emailed to you once the purchase is complete. 

If you chose to file the Check Cashing Deferred Deposit Bond yourself, you must submit it to: 

Financial Institutions Division
ATTN: Application Processing
1830 College Pkwy, Suite 100
Carson City, 89706

Can I Cancel My Check Cashing Deferred Deposit Bond and Get a Refund?

If you need to cancel your Deferred Deposit Bond, send Jet an email at [email protected]. Our team will notify the Division of the request, and they will begin the 30-day cancellation period. Since the bond is still active during this time, monthly payments will continue and this time will be counted against your refund. Once the cancellation is final, monthly payments will be stopped and those who purchased annual terms will receive a refund based on the remaining time left on the term, if applicable.

How to Renew the Nevada Check Cashing Deferred Deposit Bond

For those that are paying monthly, renewals are a thing of the past. The bond will stay active as long as payments are cleared. 

For annual terms, Jet will send a mailed notice or an email with renewal premiums. Simply fill out the form (if your limit has changed, please let us know right away) and submit payment for your new term.

How to Avoid Check Cashing Deferred Deposit Bond Claims

The main purpose of the Check Cashing Deferred Deposit Bond is to make sure that license holders will pay all fees, final judgments, or orders that are owed to individuals or the state. Judgments are a result of action taken against the licensee that defrauded an individual or otherwise violated the Nevada Revised Statutes, Chapter 604A. As long as you comply with these statutes, make sure to pay anything that you owe, and conduct your business honestly, you should be able to avoid a claim. 

If a claim does get filed, Jet will get a chance to review the evidence to make sure that it is not falsely accusing you. Within 30 days, Jet must complete the review and the claim payout if adequate evidence was given. You will be responsible for paying Jet back to restore your bond to its full amount; Jet will provide an endorsement that you must present to the Division.

Nevada Check Cashing Deferred Deposit Bond Form

Notary Bond Application:

X

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:

X

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:

X

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: