Texas Finance Bonds

Individuals and businesses fulfilling financial-related work are often required to file a surety bond to operate in Texas. Financial-related bonds are required for a variety of roles, including public insurance adjusters, credit services organizations, mortgage loan servicers, insurance agencies, and debt collectors. These requirements are overseen by the Secretary of State, Department of Insurance, Department of Banking, Real Estate Commission, Department of Licensing and Regulation, State of Texas Department of Savings and Mortgage Lending, Office of Consumer Credit, City of Wichita Falls, and City of Sherman.

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Real Estate

undefined Escrow (Timeshares)

Timeshare plan developers must provide a form of financial assurance to the Texas Real Estate Commission to guarantee refunds will be given to purchasers, when necessary. One way to fulfill this requirement is with the Timeshare Escrow Surety Bond.

undefined Mortgage Loan Servicer

The Texas Department of Savings and Mortgage Lending requires a Residential Mortgage Loan Services Bond for all those registering as a servicer in the State.

undefined Title Agent/Insurer

Two surety bonds are required for title insurance agents and direct operations to receive their license: the Escrow Officers Schedule Bond (not to be confused with the bond above) and the Title Insurance Agent/Direct Operation Bond.

Financial Management

undefined Credit Services

Credit Services Organizations, aka credit repair companies, must be registered with the Secretary of State and file with them a $10,000 surety bond to conduct business.

undefined Debt Management

The Office of Consumer Credit Commissioner adds protection to the public from financial ruin by requiring Consumer Debt Management Services to hold a bond.

undefined Money Services

Involved in currency exchange or money transmission within the State of Texas? You'll need this Money Services Bond, required by the Department of Banking.

undefined Third-Party Debt Collector

Anyone providing debt collection services to Texas citizens needs a $10,000 Third Party Debt Collector Bond filed with the Secretary of State.

undefinedThird-Party Administrator

To be approved for a Certificate of Authority in Texas, third-party administrators must maintain a Fidelity Bond to protect the financial wellbeing of their customers.

Insurance

undefined Insurance Agency

The Texas Department of Insurance mandates that all corporations/partnerships engaging in insurance as an agency be registered and hold a $25,000 Insurance Agency Bond.

undefined Public Insurance Adjuster

Public insurance adjusters need a $10,000 surety bond to operate in the state of Texas. The bond compensates those who may suffer financial damage as a result of the public adjuster's actions.

undefined Reinsurance Intermediary

Managers and brokers offering reinsurance intermediary services to the Texas public must get and maintain a Reinsurance Intermediary Bond. Broker licenses require a $100,000 bond and manager licenses require a $250,000 limit.

undefined Self-Insured Employer

Qualified employers wishing to self-insure their workers' compensation policies will need to file a Certificate of Authority and surety bond with the Department of Insurance, Division of Workers' Compensation.

Other Finance-Related Bonds

undefined Automobile Club

Sometimes called Motor Clubs, Automobile Clubs offering membership services are required by Texas law to have a $25,000 bond.

undefined Legal Service Contracts

The Department of Licensing and Regulation doesn't joke about regulating for-profit legal service contract companies. A surety bond is required to ensure the financial safety of Texas's citizens.

Sherman - Secondhand Dealer

A $1,000 Junk or Secondhand Dealer Bond is required for those dealing such items in the City of Sherman, Texas.

Wichita - Precious Metals

Purchasing and selling precious metals (gold, silver, coins, etc) in Wichita Falls, Texas? You're going to need this bond to ensure compliance with the City.

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: