What is an Arkansas Coin-Operated Amusement Machine Operator Bond?
Get to know what this surety bond is all about and how to easily get one today!
Do you intend to operate any of these coin-operated amusement machines in Arkansas?
- Radio rifles
- Miniature football
- Bumper pool
- Shooting galleries
- Pool tables
- Pinball tables
- Marble tables
- Music vending phonographs
- Video games
- Claw machines, bowling machines, countertop machines, novelty arcade machines, and other similar machines
If so, you need to get a license and a surety bond!
As a regulated industry in Arkansas, first-time license applicants or those who are renewing their licenses as Coin-Operated Amusement Machine Operators are required to submit a surety bond.
The surety bond will serve as proof of financial security to the Arkansas Department of Finance and Administration in case the licensed operator fails to pay the full amount of the necessary taxes on time.
The prerequisite is in compliance with Section 26-57-411 of the Arkansas Code.
What is the Coin-Operated Amusement Machine Operator Bond amount?
The bond amount is $6,000?
If you have an excellent credit score, you will be eligible to pay for a low bond premium!
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a Coin-Operated Amusement Machine Operator Bond?
In order to secure this type of bond, the Coin-Operated Amusement Machine Operator first-time license applicant or those who are renewing their licenses must seek the assistance of a surety bond company.
You will be asked to apply for this bond. If you’re ready to apply for one right now, you may easily do so HERE!
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate the following:
- Your financial strength
- Your job/business performance history
- Your credit score
Once the pre-qualification process is fulfilled, we will execute the bond and send it to you!
What are the bond conditions?
- The surety bond agent or company should be authorized to conduct business in the State of Arkansas
- The surety bond should be made payable to the Arkansas Department of Finance and Administration
- The licensed Coin-Operated Amusement Machine Operator must strictly follow the provisions of Section 26-57 of the Arkansas Code, the rules and regulations of the Arkansas Department of Finance and Administration, and all the other applicable rules
- If the licensed Coin-Operated Amusement Machine Operator fails to pay the following, the aggrieved party will be eligible to file a claim on the surety bond:
- All sales taxes
- Use taxes
- Privilege taxes
If you’re ready to apply for this bond, you may the start the process HERE!