Arizona Escrow Agent Bonds

Obtaining an Arizona escrow agent license entails that you provide a $100,000 surety bond. The bond functions as an additional layer of guarantee that you will comply with all relevant state laws, such as the Arizona Revised Statutes, Title 6, Chapter 7.
The licensing authority in the state is the Department of Financial Institutions. The process is conducted via the website of the Nationwide Multistate Licensing System & Registry (NMLS).

Escrow agents in Arizona have to provide a bond amount of $100,000. However, this is not your bond cost. You only have to pay a small percentage of it, called the bond premium. It is assessed on the basis of your personal and business finances. If they are in good shape, you can expect rates between 0.75% and 5%.
In order to determine your exact surety bond cost, the surety needs to examine your personal credit score, company documents, and fixed and liquid assets. The lower the bonding risk that they purvey, the smaller your bond price would be.

Lance Surety Bonds has designed its Bad Credit Surety Bonds program to provide a bonding option for applicants with bad credit. If you face issues such as a low credit score, tax liens, bankruptcies, or civil judgments, you can explore this program.

The bonding risk when you have financial problems is higher. That is why the rates are between 5% and 10%. Nonetheless, as we collaborate with a number of A-rated, T-listed surety companies, we strive to offer you top premiums that best match your specific case.

The first step to getting bonded is to fill in our online application form (it takes 5min). Whenever we receive your complete set of documents, we can issue your exact quote. Then you can buy your bond straight away. You will receive both a digital and a paper version of it.

Want to know more about how bonding functions? Make sure to check our detailed How to Get Bonded page.

Our bonding experts are here to assist you. To speak to one of them, call us at (877) 514-5146

Your escrow bond does not protect your business. It safeguards the interests of your customers. If they suffer damages caused by your unlawful activities, they can file a claim against your surety bond. This is how they can demand compensation of up to the bond amount, which is $100,000.

If the claim is proven, the surety steps in to provide fast reimbursement to the claimant. As set in the bond indemnity agreement, you need to repay it afterwards. This means that bond claims can seriously harm your finances, so it is best to avoid them.

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