South Carolina Contract Security Business License Bond
Know the who, what, and why of this surety bond!
What is a Contract Security Business License Bond?
The following persons who are engaged in the contract security business are required by the South Carolina Law Enforcement Division to submit a surety bond:
- An individual or self-employed person
- An officer or principal of a corporation
- Furnishes security officers for a fee
The surety bond will serve as a guarantee to the South Carolina Law Enforcement Division that the contract security business will lawfully fulfill its obligations when providing private patrol, guard, watchman, bodyguard, or security service for a fee.
The surety bond will also cover the amount necessary to financially compensate any person who will suffer damages in case the licensee commits a misconduct.
This requirement is mandated by Section 40-18-50 of the South Carolina Code of Laws.
What is the Contract Security Business License bond amount?
The bond amount is $10,000.
If you have an excellent credit score, you will be eligible to pay for a low bond premium! Bond premium starts at $100.
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a Contract Security Business License 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 in order 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 South Carolina
- The surety bond must be written on a form approved by the Attorney General, State of South Carolina
- The surety bond should be made payable to the State of South Carolina
- The contract security business licensee is obligated to comply with the provisions of Title 40, Chapter 18 of the South Carolina Code of Laws as well as the rules and regulations of the South Carolina Law Enforcement Division
- If the contract security business licensee commits a violation, the aggrieved party will be eligible to file a claim against the surety bond