Massachusetts Professional Solicitor Bond
A quick guide to one of the most important requirements for professional solicitors!
What is a Professional Solicitor Bond?
A certificate of registration from the Division of Non-Profit Organizations/Public Charities of the Department of the Attorney General of the Commonwealth of Massachusetts is required of all professional solicitors.
A surety bond is one of the requirements for the issuance of the certificate of registration.
The purpose of the surety bond is to ensure that the professional solicitor will conform to the relevant laws of the Commonwealth while performing solicitation activities for a charitable organization. This includes keeping the contributions safe.
If the professional solicitor violates any of the state laws and rules that governs professional solicitors in the Commonwealth, the person who has suffered damages will be compensated by filing a claim against the bond.
The surety bond will be submitted along with the registration statement, fundraising contract, filing fee, and the Professional Solicitor’s Annual Financial Report.
What is the Professional Solicitor Bond amount?
The bond amount is $25,000.
If you have an excellent credit score, you will be eligible to pay for a low bond premium, or just 1% of the bond amount!
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a Professional Solicitor Bond?
Here’s a step-by-step bonding process that we have made easier so that you can get your bond in no time:
You must first apply for this type of surety bond. If you are ready to do this now, you may APPLY HERE!
Our expert surety bond agent will guide you through the entire process – from the time you have applied until the bond is issued to you.
Next, you will be asked to submit a few important information that our underwriter will need to assess the following:
- Your job or business history
- Your credit score
- Your financial strength
To avoid any delays, make sure that you have gathered the right information needed prior to submitting.
Once the underwriting process is done, we will immediately issue your bond and send it to you right away!
What are the surety bond conditions?
- The surety bond agent or company should be authorized to conduct business in the Commonwealth of Massachusetts
- The surety bond should be made payable to the following:
- The Division of Non-Profit Organizations/Public Charities of the Department of the Attorney General of the Commonwealth of Massachusetts
- Any charitable organization who has been injured by the wrongdoings of the professional solicitor
- The professional solicitor must obey the provisions of Chapter 68 of the Massachusetts General Laws as well as the rules and regulations of the Division of Non-Profit Organizations/Public Charities of the Department of the Attorney General of the Commonwealth of Massachusetts
- If the professional solicitor commits a violation, the aggrieved party will be eligible to file for a bond claim