Rhode Island has fewer commercial bond requirements than most states, and our agency is licensed and able to write all of them. Lance Surety Bonds offers very aggressive bonding programs that allow our customers to obtain the lowest possible rates, regardless of credit. Our agents are experienced in handling your state requirements, and are available to answer any specific questions you may have.
Need to get bonded in Rhode Island?
MOST COMMON RHODE ISLAND BONDS:
Dealer’s License Bond
The Dealer’s License & Regulation Office requires all dealers to post a $15,000 bond. The bond must coincide with the license period, and must expire on December 31st of any given year.
Loan Broker Bond
This mortgage broker bond is required by the state’s Department of Business Regulation. The penal sum of the bond is $25,000 plus an additional sum of $5,000 for each branch location from which the principal shall conduct business.
Mortgage Lender Bond
Also required by the Rhode Island Department of Business Regulation, this penal sum is slightly larger than that of the Loan Broker Bond. Mortgage Lender Bonds must be in the amount of $50,000 plus $5,000 per additional business location.
Telemarketer Solicitation Bond
This is a $30,000 bond required by the RI Department of the Attorney General of all telephone solicitors operating in the state. The bond provides protection to consumers from violations by licensed phone solicitors.