What is an Ohio Professional Solicitor Bond?
Get to know what this bond is all about and how to easily apply for one!
The Ohio Attorney General requires every Professional Solicitor to furnish a bond before he or she engages in any activity that involves solicitation. The requirement is in pursuance of Chapter 1716.07 of the Ohio Revised Code.
A Professional Solicitor is a person who is hired by a charitable organization to solicit contributions for the said non-profit organization’s fundraising activity.
What is the bond amount?
The bond amount is $25,000.
Those who have excellent credit scores may qualify for a very low bond premium or just 1% of the bond amount!
Find out what you need to pay by getting your FREE quote here!
What are the bond conditions?
- The bond will be a legally binding agreement between these three key parties:
Principal – The Professional Solicitor
Obligee – The State of Ohio
Surety – the surety bond company that will issue the bond
- The surety bond company should be authorized to conduct business in the State of Ohio such as Surety Bond Authority
- The surety bond should be approved by the Ohio Attorney General
- The Professional Solicitor should comply with all the provisions of Chapter 1716 of the Ohio Revised Code and all the other applicable rules and regulations that govern professional solicitors in the State of Ohio
- In case of a valid violation committed by the Professional Solicitor, the aggrieved party will be eligible to file a claim on the bond
- The bond’s validity will run concurrently with the Professional Solicitor’s registration
- In the case of cancellation, a 30-day notice is required.
How can I obtain a Professional Solicitor bond?
To secure this type of bond, the Professional Solicitor registration applicant must seek the assistance of a surety bond company.
You will be asked to apply for this bond.
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 other requirements needed to become registered as a Professional Solicitor in Ohio?
- Submit a list of additional personnel
- Submit any disciplinary actions undertaken if applicable
- Submit a registration affidavit
- If using names other than the Professional Solicitor’s name, the applicant is required to file a registration to the Ohio Secretary of State’s office.
Are you ready to get started on this bond? Apply here today!