Oregon Mail Agent Bond - $10,000
What is the Oregon Mail Agent Bond?
The Oregon Revised Statute 646A.340 defines a mail agent as any person, organization, or entity (corporation, sole proprietorship, etc.) who owns and regulates any mailbox for the purpose of receiving United States material or mail from a private individual or entity. All mail agents must not receive packages on behalf of a tenant should they discover the use of false information.
The State of Oregon mandates aspiring mail agents to secure proper licenses, fees, and bonds with the Department of Justice Civil Enforcement Division. According to the Department’s Insurance Division, the total bond amount that must be secured for mail agents is $10,000. ORS 646A.344 to 646A.348 also allows the use of an irrevocable letter of credit in the amount of $10,000 from an insured or bonded instution in lieu of actual bonding.
Why do you need an Oregon Mail Agent Bond?
The State of Oregon provides proper licensing guidelines, including strict bonding, for prospect mail agents to protect the state and the citizens from fraudulent businesses and other gross misconduct. Failure to satisfy the duties and responsibilities of a mail agent will result to proper reprimanding, including payment for actual damages not exceeding $1,000 per incident of violation.
Apart from the mandatory legal compliance, securing your own licensing bond also ensures:
- Clients are completely safe and secure under your agency
- Your credibility is boosted in terms of financial security
- You are able to use your full line of credit
- The confidentiality of your activities (unless requested by legal authorities)
- Your access to professional advice counseling from lawyers, estimators, and similar professionals.
More details about the Oregon Mail Agent Bond
The Oregon Mail Agent Bond must be filed with Oregon’s Department of Justice Civil Enforcement Division and must be issued by a surety bond provider certified by the state’s Insurance Department. The parties in the agreement are:
- Principal (mail agent)
- Obligee (State of Oregon)
- Surety/Bond Company or Obligor (surety bond provider)
How much does an Oregon Mail Agent Bond cost?
While the total bond amount for the mail agent bond in the State of Oregon is valued at $10,000, the cost of the bond itself is typically at $100.
Want to know your standing? Visit here to get your surety bond quote today!
How do I obtain this bond?
At Surety Bond Authority, we are dedicated to help you get your bond the fast and easy way. Here is a step-by-step guide to help you get started.
To secure your bond, be sure to transact with a reputable surety company early. If you are ready to get yours processed today, you can APPLY HERE. Rest assured our expert surety bond agent will guide you from the time of your application until the issuance of your bond.
- Completed bond application form (to be provided by our trusted surety agents)
- Bond forms (as designed and mandated by the state regulation department)
- Financial documents (this includes your bank account statements, sources of income, balance sheets, personal and business capital, escrow accounts, etc.)
- Other requirements as prescribed (seller’s permit, facility permit to legally conduct business, etc.)
In the assessment phase, our underwriter will need the following information:
- Nature of your business
- Credit Score
- Financial strength
For the speedy processing of your application, ensure you have gathered and provided accurate information upon submission.
Once the assessment is done, we will promptly issue your bond and send it your way. Contact us today and get your bond issued in no time.