What is a California Telephonic Seller Surety Bond?
In the state of California, telephonic sellers are required to register with the Attorney General no less than 10 days prior to commencing business. A seller is deemed to be doing business in the state if they solicit prospective purchasers from locations in California or if they solicit prospective purchasers who are located in the state.
As part of the registration process, a $100,000 surety bond must be submitted with the registration application. This surety bond guarantees that the principal (telephonic seller) will comply with all provisions of Division 7, Part 3, Chapter 1, Article 1.4 of the California Business and Professions Code. If financial damages occur due to the principal’s noncompliance with the statutes, the surety will pay out 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.
What are the terms of the bond?
California Telephonic Seller Surety Bonds must be filed with the Attorney General’s office, and the aggregate liability of the surety shall not exceed the penal sum of the bond. The bond term is continuous and remains in full force and effect until canceled. The surety may cancel the bond for any reason by giving advanced written notice to the state.
How much will my bond cost?
Pacific Surety is proud to offer a variety of approvals regardless of credit for California Telephonic Seller Surety Bonds, with rates as low as $1,000 annually for well qualified applicants. The process typically takes just a few hours for a quote, and we have the ability to beat any competitors pricing. If you have any specific questions, feel free to contact our knowledgeable underwriting staff.
- California Telephonic Seller Surety Bond Form A
- California Telephonic Seller Registration Form
- California Telephonic Seller Registration Instructions
- California Attorney General – Telephonic Seller Page
- California Business and Professions Code – Division 7, Part 3, Chapter 1, Article 1.4
Surety Bond Name
Telephonic Seller Surety Bonds (Telemarketing Surety Bonds) – California
$100,000Request a Free Quote