South Carolina Employment Agency Bond
Get the information you need about this surety bond right here!
What is an Employment Agency Bond?
As mandated by the South Carolina Private Personnel Placement Services Act, all employment agencies or private personnel placement services are required to apply for a license.
One of the most important prerequisites for the said license is a surety bond.
The bond will cover the amount necessary to compensate any person who will suffer damages from the potential misconduct of the licensee.
The misconduct includes performing prohibited acts as defined in Chapter 25 of the South Carolina Code of Laws. These are, but not limited to, the following:
- Persuade the employee to leave his or her employer
- Refers an unknowing applicant to an employer where a strike exists
- Sends an applicant to an employer or place maintained for illegal purposes
- Charge a fee for an applicant’s registration
- Procure the termination of an employee from his or her current employer
What is the Employment Agency Bond amount?
The bond amount is $3,000.
If you have an excellent credit score, you will be eligible for a very low bond premium!
Know what you need to pay right now! GET YOUR FREE QUOTE HERE today!
How can I get an Employment Agency Bond?
To secure this type of bond, the license applicant must seek the assistance of a surety bond company.
You will be asked to apply for this bond. If you’re ready to apply for one right now, you may easily do so HERE!
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 prequalification process is fulfilled, we will execute the bond and send it 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 should be approved by the Attorney General and filed with the Secretary of State, State of South Carolina
- The licensed employment agency or private personnel placement services is obligated to obey the provisions of the South Carolina Private Personnel Placement Services Act or Chapter 25 of the South Carolina Code of Laws as well as the rules and regulations of the Secretary of State, State of South Carolina
- If the licensed employment agency or private personnel placement services commits a violation, the aggrieved party will be eligible to file a claim against the bond