The North Carolina Department of the Secretary of State (SOS) requires professional solicitors to file a Professional Solicitor Bond to be licensed. The bond’s limit must be between a minimum of $20,000 and a maximum of $50,000, enough to cover financial damages from the professional solicitor’s failure to comply with regulations. Jet provides this license bond as a financial guarantee to the SOS that there will be reimbursement available to those harmed by the solicitor.
When you buy your Professional Solicitor Bond with Jet, you will have a surety company that has your back against false allegations.
The cost for a Professional Solicitor Bond with Jet starts as low as $200 annually or $20 monthly. Rates for the bond are dependent on the bond limit required and a soft credit check.
The monthly payment option is exclusive to Jet, allowing you to provide your payment information once and not worrying about a renewal process.
The amount of charitable contributions received in a fiscal year determines the bond limit. A professional solicitor must hold a bond in one of the following amounts:
|Bond Limit||Contributions Received (Within One Fiscal Year)|
|$20,000||Up to $100,000|
|$20,000||$200,000 or more|
The Department of the Secretary of State exists to encourage growth economically and encourage the public trust by providing regulations for businesses and individuals operating in the State of North Carolina. Licenses and surety bonds are a major factor in the SOS’ success of keeping the public safe. The Professional Solicitor Bond is just one example which ensures solicitor businesses abide by the rules and regulations found in Chapter 131F of the North Carolina General Statutes (NCGS). The bond provides a guarantee to the professional solicitor’s clients that they will receive recompense for unethical or illegal actions of the solicitor leading to financial damage.
The SOS relies on a third party, Jet (the surety company), to warrant a safe and efficient bonding process that would otherwise be a hassle to the Department and result in losses to the public.
Yes! Once you complete your purchase, Jet will sign and seal your Professional Solicitor Bond and mail it directly to the Department of the Secretary of State. You will receive an electronic copy of the bond at the time of purchase.
If you need the original bond to submit with the license application, Jet will send the bond to the address indicated during purchase. All documents are to be mailed to:
North Carolina Secretary of State
2 South Salisbury St
Raleigh, NC 27601-2903
Yes, you can cancel the bond at any time with Jet! Send Jet an email or written letter requesting cancellation and we will notify the SOS right away. However, the SOS keeps the bond in effect for an additional 30 days upon notice, which will affect your refund. If you paid for the bond in full at the time of purchase, Jet will calculate a refund based on the remaining time left on the bond. For monthly payments, a refund will not be provided, but the payments will end after the 30-day period.
When it is time to renew your Professional Solicitor Bond, Jet will send you a renewal notice well in advance through mail and email.
Those paying monthly require no action to be taken, unless the bond limit has changed. If a new bond limit is required, just let us know and we will adjust the monthly rate accordingly.
If paying in full, simply click the link in the email to renew online. To renew through mail, simply fill out the renewal notice and mail it back. If a new limit is required, let us know the change in the bond limit. We will send you the new rates for the appropriate liability needed for your license.
Under their license, a professional solicitor is obligated to follow the regulations of the NCGS Chapter 131F. A violation of these statutes, such as the prohibited actions listed in GS 131F-20, can lead to a bond claim. These acts include:
A claim can be filed by those who have been damaged financially based on the professional solicitor’s actions. However, there are a few steps that can be taken to avoid a complaint from turning into a claim on the bond. Under NCGS 131F-23, the SOS can investigate any allegations and impose a penalty for a violation of a statute up to $1,000 for each violation. Additionally, the professional solicitor’s license can be suspended or rejected for renewal, ending the solicitor’s business. Allegations can also be mitigated through voluntary compliance under NCGS 131F-24, where the professional solicitor reimburses those who filed the allegations or takes other corrective action.
Immediately notify Jet upon receiving confirmation of a bond claim. Jet will ask for any supporting documentation and proceed with an investigation to determine the validity of the allegation. If the claim proves to be valid, Jet will pay out the claim up to the full bond limit. Since the bond acts as an extension of your credit, you are still ultimately responsible for your actions and must pay Jet back in the amount of the claim.
Yes, a person can qualify as an exempt person from being licensed or carrying a Professional Solicitor Bond. This includes a person who solicits donations for a religious institution, a noncommercial television or radio station, or an employee or volunteer of a charitable organization, amongst other exemptions listed in NCGS 131F-3.