The 2-Minute Rule for North America Surety Bonds - WTW

Employers with more than 5 staff members need to send a Surety Bond of five thousand ($5,000) dollars. Employment Service Bond ($50,000/$100,000) All applicants for a Basic Business License for a Work Provider Service (Work Firm) must post a $50,000 Employment Service Surety Bond or a $100,000 Work Firm Surety Bond for the duration of the two-year license duration.

If the typical fee for a task applicant is less than $2,000 and the Employment Agency company gets in into agreements with less than 100 task candidates each year, a bond in the quantity of fifty thousand ($50,000) dollars will be filed. Work Therapy Service Bond ($50,000/$100,000) All applicants for a Basic Company License for an Employment Services Organization (Employment Therapy Service) should publish an Employment Therapy Service Surety Bond for the duration of the two-year license duration.

If the typical cost for a task hunter is less than $2,000 and the Employment Therapy company enters into contracts with fewer than 100 task applicants per year, a bond in the amount of fifty thousand ($50,000) dollars shall be filed. Health Spa Sales Bond ($25,000/$50,000) All candidates for a Basic Business License for a Controlled Organization (Health Medspa Sales) need to post a Spa Surety Bond in the quantity of twenty-five thousand ($25,000) dollars throughout of the two-year license duration for annual membership sales of up to one hundred thousand dollars ($100,000).

The Surety Bond may be issued by an authorized insurance coverage provider, or the candidate may post a money bond with the Department of Customer and Regulatory Affairs. House Improvement Surety Bond ($25,000) All applicants for a Basic Company License for a Managed Organization (Home Improvement Professional) must post a Home Improvement Surety Bond in the quantity of twenty-five thousand ($25,000) dollars for the period of the two-year license period.

Automobile Dealership Bond ($25,000) All candidates for a Basic Service License for a Managed Service (Motor Car Dealership) must post a in the quantity of twenty-five thousand ($25,000) dollars throughout of the two-year license duration. Also Found Here might be issued by an authorized insurance provider, or the candidate might post a money bond with the Department of Customer and Regulatory Affairs.