Nevada Debt Management Services Bond

Nevada Debt Management Services Bond

The Nevada Department of Business and Industry requires businesses that provide debt-management services to be registered as a Uniform Debt Management Services Provider. A Uniform Debt-Management Services Act Surety Bond must be filed in order to be approved for and maintain a license from the Department’s Financial Institutions Division.

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Jet Insurance Company offers the Debt Management Services Bond as a legal assurance to the Nevada Financial Institutions Division that the licensee will perform all obligations up to regulation. If the uniform debt-management services provider commits a violation that causes financial damages to a client, the surety bond will act as a guarantee of restitution to cover such losses. 

What Is the Bond Limit and Cost of the Nevada Debt Management Services Bond?

The Nevada Debt Management Services Bond Limit is determined by the Commissioner of the Financial Institutions, with a minimum limit of $50,000. If the Commissioner believes that a higher amount is warranted, the financial condition of the licensee, the business experience of the provider, and the history of the company’s past performances in the debt-management industry will be evaluated. 

Jet’s prices for the Debt Management Services Bond are only a small percentage of the custom limit, based on a soft credit check of the bond applicant. Providers seeking a $50,000 bond amount can pay as low as $500 a year or $50 a month. Take a look at the chart below for our preferred tier rates.

Bond LimitMonthlyAnnual
$50,000$50$500
Nevada Debt-Management Services Bond Price

If you are seeking a higher bond amount, Jets underwriters may need further information such as the Commissioner’s reasoning for your required custom limit. No need to worry though; your approved rate will still only be a percentage of the bond amount and based on personal credit. Once a quick review of your info has been completed, monthly, annual, and multi-year payment options will be sent to you that are ready for immediate purchase. 

The Nevada Debt Management Services Provider Bond Process With Jet

Our application process for the Debt Management Services Bond was created to be efficient. Your contact details, bond limit, and social security number are needed. A soft credit check is run to get you an approved rate, which won’t affect your current score. Approved rate options will be sent to your email once a Jet underwriter has completed their review of your information. All you need to do is choose your preferred bond term option and fulfill the payment. At this point, you will instantly receive a copy of your bond form and receipt.

Jet can take care of filing your bond for you at no extra charge! However, if you would prefer to file your bond yourself, perhaps with your Application for Registration, you can select the option to do so at check out. The original signed and sealed Debt-Management Services Bond must be filed with the Nevada Department of Business and Industry’s Financial Institutions Division.

The surety bond form and all other required documents must be sent to the mailing address listed below.

Nevada Department of Business & Industry
Financial Institutions Division
ATTN: Application Processing
1830 College Pkwy., Suite 100
Carson City, NV 89706

According to the Nevada Financial Institutions Division, your Uniform Debt-Management Services Provider license expires on June 1st each year. To qualify for reinstatement, your bond will need to be active and on file.

Those who enroll in our monthly plan won’t have to worry about renewing their Debt-Management Services Bond! Your bond will remain active as long as payments are made. If you choose to purchase your bond in full and upfront, Jet will send you a renewal invoice prior to your bond term expiration date. Standard payment is all that is needed to keep your bond active with the Division. 

If you need to cancel your bond at any time, just send a written cancellation request to Jet at bonddept@jetsurety.com. A Jet team member will send the Nevada Financial Institutions Division notice that your bond is to be terminated. Once received, the Commissioner will release the liability of the surety bond within 30 days.

Monthly plan enrollees will be required to make one last payment for the 30-day liability period as your bond remains active during this time; your account with Jet will cease once this step has been completed. As for refunds, Jet will reimburse any unused premium for multi-year bondholders that cancel early once the liability timeline has officially expired.

It is important to note that if you terminate your license and cease the operations of your debt-management services company, the Financial Institutions Division requires your Debt-Management Services Bond to remain active for two years following your last transaction of business. 

How Does a Nevada Debt Management Services Provider Avoid Bond Claims?

Licensed providers that offer consumers debt-management services are expected to follow all rules and regulations stated in Chapter 676A of the Nevada Revised Statutes. Violations of such directives may result in the Financial Institutions Division charging the provider large fines and suspending or revoking their license. Civil action and a bond claim are also possible penalties.

Claims on the Debt-Management Services Bond typically occur if the debt-management services provider misappropriates funds or settles a debt with a creditor without the client’s approval. Occasionally the Division will file a claim on the surety bond if the provider has subsequently refused to pay their license fees or other costs that are due, but this is a rarity. 

Official complaints may be made to the Commissioner regarding license violations. As for clients that have been financially damaged by the provider’s transgressions, civil action may be pursued. In cases where such a course of action is taken and the Nevada State court rules in favor of the claimant, the surety bond will be used to cover all losses incurred and the cost of the client’s attorney fees. 

If you receive a claim notice, contact Jet as soon as possible! We will ask that you provide us with all available information and documentation of the accused license violation for our evaluation. Once an official claim notice is filed, we are only given 30 days to investigate the claim before a course of action is due to the Commissioner or Nevada State court. 

Per the Debt-Management Services Bond form, Jet is legally obligated to payout justified claims up to the bond’s limit (claim payments will never exceed the bond amount). You, the licensed uniform debt-management services provider, are responsible for your actions and must reimburse Jet for the claim settlement made on your behalf. Failure to fulfill this obligation can lead to future difficulties in acquiring surety bonds in the State of Nevada. 

Nevada Debt Management Services 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: