Professional Fundraiser Bond

Each state determines what the total amount of the bond they require will be. They usually range between $10,00, like in Michigan and Georgia, to $50,000 in other states, like Florida. This means that if a claim is made against a fundraiser’s surety bond in Georgia, the maximum compensation a claimant can obtain is $10,000.

This penal sum isn’t the same as your actual bond cost. To get bonded, professional solicitors pay a premium, usually annually and sometimes bi-annually. The premium depends on the solicitor’s credit score and can range between 1% and 10% of the penal sum, depending on their credit score.

For example, if an applicant with excellent credit applies to get bonded in Florida, and they are quoted at 1%, their annual premium will be $500.

Every bond is different and the applicant’s credit score might not be the only determining factor during the underwriting process. Find out more on our “What Does a Surety Bond Cost?” page.

Yes! Most applicants will successfully obtain a professional fundraiser bond, even if they have a low credit score, no credit history or past due items in their reports. The only applicants who typically see their applications rejected are those with open bankruptcies and late child support payments.

Lance Surety Bonds offers excellent rates, even to bad credit applicants and without the need to post collateral or find a co-signer. If you’re unhappy with your premium, our agents can lend a hand, so you can build a stronger application. Surety bond underwriting is based on the assumed risk for the surety, so there are ways to demonstrate that you are not a high-risk applicant. For example, if you have strong financials or a lot of industry experience, this can reduce your premium.

Find out more on the topic on our page dedicated to getting bonded with bad credit.

We’ve created a fast and user-friendly online application. You only need to submit a few details about your business and required bond, and we take it from there. We’ll contact you with a free bond quote and one of our agents will work with you throughout the whole process.

We will help you with all the paperwork, answer your questions, and expedite your bond as soon as it’s signed by the bonding company. Usually the whole process takes between one and two business days– though we also advise our clients to apply as early as possible for peace of mind.

You will receive the original bond form (which you are usually required to attach with your application) by mail, and we can supply additional copies via fax or email.

For questions regarding your application, you can always ask our agents at (877)-514-5146.

Each state will have specific provisions that you need to comply with. When getting bonded, it’s a good idea to contact your local authority and inquire which laws and regulations pertain to your profession. Violating the law can trigger a claim against your business.

If you are notified of a claim, you must make good on it before it goes to court. In some cases the surety will provide the initial compensation, but you’re responsible for reimbursing it in full in a timely manner.

If you think you have not violated the terms of the bond agreement and the claim against you is groundless you can dispute it but you must have sufficient proof. As a rule of thumb, keep your communication with the claimant well-documented so you can build a solid case.