Texas Business Opportunity Seller Bond

Texas Business Opportunity Seller Bond

In Texas, those who sell or lease business opportunities must be registered with the Secretary of State and have a $25,000 Business Opportunity Seller Bond on file. The surety bond serves as financial protection against sellers who break the terms of the business opportunity contract or fail to comply with regulations. 

APPLY FOR YOUR BOND

Buying your Business Opportunity Seller Bond with Jet is easy! Just click the button above to fill out the streamlined application.

What Is the Cost of the Texas Business Opportunity Seller Bond?

At Jet, Prices for the Business Opportunity Seller Bond start at $25 per month or $250 per year. Rates are based on credit, so actual costs vary. The chart below shows what the rate starts at for different terms.

Bond TermCost
Monthly$30
1 Year$250
2 Years$438
3 Years$625
TX Business Opportunity Seller Bond Rates

You can purchase your bond at a price that is affordable for you, whether that’s making payments each month or paying for multiple years at a time.

The Business Opportunity Seller Bond Process With Jet

Jet’s application only asks for required information, including your social security number (which is used for a credit check). Don’t worry, this is just a soft check and will not impact your credit score like a hard inquiry.

After you have completed the application, it will be submitted for review with a Jet team member. Additional information may need to be evaluated like the business opportunity contract and financial statements. When ready, you will receive an email with your approved quote that you can purchase right away. Just select your term and submit payment information. You will get a copy of the bond and a receipt sent to your email.

The original Business Opportunity Seller Bond will be mailed to you so you can sign it and send it in for filing at the following address:

Texas Secretary of State
Registrations Unit
PO Box 13193
Austin, TC 78711-3193

As for renewals, Jet will send you a notice when your term is ending. Just pick your new term and provide payment to keep your bond active, and you’re done! Jet will take care of the rest. Monthly payment plan subscribers don’t even need to renew; just keep paying your monthly installments!

As for renewals, Jet will send you a notice when your term is ending. Just pick your new term and provide payment to keep your bond active, and you’re done! Jet will take care of the rest. Monthly payment plan subscribers don’t even need to renew as long as you keep paying your monthly installments!

If the bond is no longer needed, send Jet an email at [email protected]. The Registrations Unit requires a 60-day window before the bond is fully cancelled so it’s imperative to give notice as soon as possible. The bond is still active until the 60th day—that means monthly payments will continue during this time and annual payments will not include these 60 days in the calculation for an eligible refund.

Who Needs a Business Opportunity Seller Bond in Texas?

The title of the bond gives away who it is meant for: those who sell business opportunities of more than $500 of goods or services for a purchaser to begin a business. Part of this sale includes entering into a contract, which holds certain obligations from the seller. These include:

How Does a Business Opportunity Seller Avoid Bond Claims?

A seller can prevent having action brought against their Business Opportunity Seller Bond by following the conditions of the bond. The bond can recover from damages caused by the seller doing the following things: 

  1. Breaking the business opportunity contract
  2. Breaking the seller’s obligation of a business opportunity sale 
  3. A violation of the Business Opportunity Act (another name for Chapter 51 of the Texas Business and Commerce Code)

Texas Business Opportunity Seller 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: