What is a North Carolina Lottery Retailer’s Bond?
Start winning big in the lottery business through this surety bond!
What is a Lottery Retailer’s Bond??
Every person who is intending to become a lottery retailer in the State of North Carolina must prove his or her creditworthiness to the North Carolina Education Lottery.
If the North Carolina Education Lottery is not satisfied with the creditworthiness of the license applicant, the said person will be asked to submit a surety bond.
The surety bond is needed to ensure that the lottery retailer will perform his or her duties in accordance with the applicable statutes and rules.
This includes, but is not limited to, the following:
- Sell lottery tickets at a price that’s been established by the North Carolina Education Lottery
- That the lottery retailer will not impose any unauthorized restrictions upon the sale or redemption of the lottery tickets
- That no lottery tickets will be sold to minors
A violation committed by the lottery retailer will be a ground for a bond claim.
What is the Lottery Retailer’s Bond amount?
The bond amount is $2,000 per location within the State of North Carolina.
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 Lottery Retailer’s Bond?
You can easily get this surety bond from us! We will guide you through the entire process. We’ll make sure that you will understand what you are getting into.
Here’s how to do get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
An expert underwriter will carefully evaluate all three to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
What are the surety bond conditions?
- The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of North Carolina
- The surety bond should be made payable to the North Carolina Education Lottery
- The lottery retailer is obligated to comply with the provisions of Chapter 8 of the Retailer Rules and Regulations of the North Carolina Education Lottery or the North Carolina State Lottery Act
- If the lottery retailers violate any of the rules or the bond’s conditions, the aggrieved party will be eligible to file a claim against the surety bond up to its maximum value