Kentucky Telemarketing Company Bond

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How Do I Get Bonded?

What Is a Kentucky Telemarketing Company Bond?

Telephone soliciting companies in Kentucky have to register with the Office of the Attorney General in the state. Obtaining an appropriate telemarketing bond is one of the legal prerequisites before you start your operations.

Your surety bond functions as an extra layer of protection for the general public against unethical and illegal activities that telemarketers may commit. In a way, it is an additional assurance for your legal compliance. A harmed entity may bring a claim against your bond to seek a financial reimbursement for suffered damages.

Just like surety bonds in other states, your Kentucky surety bond works like a contract between three parties. Your telephone solicitation company is the principal. The Kentucky Office of the Attorney General is the obligee that imposes the bond requirement. Last but not least, it is the surety that provides the bonding.

Questions about Telemarketing Bonds in Kentucky

Who needs a telemarketing company bond?

In Kentucky, any company that wants to conduct telephone solicitation has to register with the Office of the Attorney General a minimum of ten days before starting its activity. A $50,000 surety bond is required in this process, which has to be filed in the official bond form.

The surety bond provides a guarantee for your compliance with the Kentucky Telephone Solicitations Act of 1994 (Kentucky Revised Statutes 367.46951). It should be kept in full force during your registration period.

What is the bond price?

The bonding amount requirement that you have to meet as a Kentucky telephone solicitor is $50,000. This is different from the price you pay to get bonded, which is called your bond premium. If your overall profile is stable, the typical rates are between 1% and 3%.

Surety Bond Cost Based on Credit Score
Surety bond name Surety bond amount Above 700 Between 650-699 Between 600-649 Below 599
Kentucky telemarketing company bond $50,000 $375-$750 $500-$1,250 $1,250-$2,500 $2,500-$5,000

* This table provides a ballpark estimate of potential bond costs. Bond pricing can fluctuate over time due to a number of factors. For exact pricing, please complete an application.

The formation of your surety bond cost is based on a couple of important financial factors. Your surety takes a close look at your personal credit score and business finances, plus any assets and liquidity that you can showcase. In this way, it determines the level of risk that is associated with bonding you. If you are deemed a solid candidate, you can expect to pay a lower bond premium.

What if my credit is bad?

If you are a telemarketer with problematic finances such as a low credit score, bankruptcies, tax liens, or civil judgements, getting the bond you need to start your business can be difficult. That’s why Lance Surety Bonds operates its Bad Credit Surety Bonds program. It is designed for applicants with bad credit and other financial issues.

The premiums you can expect in this special program are typically between 5% to 10%. They are higher, so that they can compensate for the increased bond risk. As we collaborate with a number of A-rated, T-listed surety companies, we can shop around for you and find the right bonding option that matches your circumstances.

How can I get bonded?

How does bonding work exactly? You can learn the basics in our How to Get Bonded page.

Have more questions, or need help with your application? You can always call us at (877) 514-5146. Our bonding specialists will be happy to assist you. .

How are bond claims handled for telemarketers?

Your telemarketing bond is a safety net for the general public in Kentucky. It does not protect your business, which means you are liable for reimbursing any harms that lead to surety bond claims. Such cases include transgressing from your legal obligations under the Kentucky Telephone Solicitations Act, as well as applicable federal regulations.

On proven claims, your surety may step in to pay the damages at first. You still need to cover all costs eventually. This means that bond claims can be a serious financial threat to your business. They can also make it difficult to get bonded in the future.

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About Us

Lance Surety Bonds
Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more

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What Our Clients Have To Say?

  • Kimberlee Ables
    Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
  • Andrew Poincot
    Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
  • Margie Martinez
    We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

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