Under a new assembly bill the security requirement for service contract providers will be appealed. Currently the law requires the provider to post some form of security in an amount equal to $25,000 or 5% of the gross consideration received by the provider for any unexpired service contracts. A surety bond is accepted in lieu for this requirement.
Lance Surety Bond Associates, Inc. is a surety bond agency based out of southeastern Pennsylvania that is able to write all surety bond types in all 50 states. We are dedicated to servicing all of our customers' surety bonding needs throughout the country and guarantee competitive rates, timely responses, and unparalleled customer service.