Commercial Requester Surety Bonds

What are Commercial Requester Bonds?

These license and permit surety bonds ensure the privacy of the general public by protecting against the potential fraudulent misuse of their personal information, and guarantee that the commercial requester handles their personal information in accordance with all applicable laws and regulations.

If the principal does not comply with the terms of the bond, a claim can be filed with the surety company for relief. If the claim is valid, the surety will pay up to the penal sum of the bond to resolve the claim. The principal is then required to reimburse the surety for all monies paid out, including any attorney fees incurred by the surety in the defense of the claim.

Who needs a Commercial Requester Surety Bond?

Commercial Requester Surety Bonds are issued by the Department of Motor Vehicles (DMV) and are required for commercial requesters. A commercial requester is an individual or company who has been granted access to the information regarding the general public held by the DMV. These requesters must have a valid business reason for accessing these records and maintain absolute confidentiality regarding their contents.

Which states require Commercial Requester Surety Bonds?

Pacific Surety proudly offers Commercial Requester Surety Bonds in the following states:

Please contact your local authority for more information about Commercial Requester Surety Bond requirements in your state.

What is the bond amount for this surety bond?

Amounts for Commercial Requester Surety Bonds are established at the state level and are set by the laws and statutes regulating the industry in a given state. Therefore, bond amounts and requirements will vary from state to state. Please contact us with specific questions, and our knowledgeable underwriting staff will assist you.

How much do Commercial Requester Bonds cost?

Pricing for Commercial Requester Surety Bonds varies by state. An underwriter will review your application, and your premium will be based on the following factors:

  • The state requiring the bond
  • Amount of the bond
  • Term length of the bond
  • Personal credit for all owners with at least a 10% ownership stake in the business

Individuals with good credit can expect to pay 1%-5% of the bond amount. Qualified applicants could pay as little as $500 annually for a $50,000 Commercial Requester Surety Bond. To find out how much your bond is going to cost, please complete our online application for your free, no obligation price quote.

Can I get a Commercial Requester Surety Bond with bad credit?

Pacific Surety offers a wide range of approvals, regardless of credit, for Commercial Requester Surety Bonds. With our strong surety relationships, we have the ability to approve 99% of applicants, regardless of how bad their credit is. Our knowledgeable underwriting staff will work with you to ensure you receive the lowest possible pricing for your bond. Applicants with substandard credit can expect to pay 5%-10% of the bond amount in premium. To see what rate you will qualify for, please complete our online application for your free, no obligation price quote.

How are Commercial Requester Surety Bonds purchased?

The first step is to complete our quick online application for your free, no obligation bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing. If you prefer to speak with our knowledgeable staff, please call 1-866-722-7873 and one of our Underwriters will assist you in applying for your bond.

After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.

ADDITIONAL RESOURCES

Pacific Surety proudly offers Commercial Requester Surety Bonds in the following states: