What is a Kentucky Telephonic Seller Surety Bond?
In the commonwealth of Kentucky, telemarketing companies are required to register with the Office of the Attorney General at least 10 days prior to commencing business. As part of the registration process, a $50,000 surety bond must be submitted along with the registration application. This surety bond guarantees that the principal (telemarketing company) will comply with all provisions of KRS 367.46951 to 367.46999, which is also known as the Telephone Solicitations Act. 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?
Kentucky Telephonic Seller Surety Bonds must be filed with the Attorney General, and the aggregate liability of the surety shall not exceed the penal sum of the bond. The bond term is one year and must be renewed annually along with the registration. The surety may cancel the bond for any reason by giving a thirty day notice in writing by certified mail to the Attorney General.
How much will my bond cost?
Pacific Surety is proud to offer a variety of approvals regardless of credit for Kentucky Telephonic Seller Surety Bonds, with rates as low as $500 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.
- Commonwealth of Kentucky Office of the Attorney General – Telemarketers Page
- Bond For Telemarketing Company
- Kentucky Telemarketing Company Registration Statement
- Kentucky Telephone Solicitations Act
Surety Bond Name
Telephonic Seller Surety Bonds (Telemarketing Surety Bonds) – Kentucky
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