Credit service organization bond cost
Credit services organizations in Oklahoma are required by law to obtain a $10,000 surety bond. Your exact surety bond cost will depend on a review of your credit report, your personal financial statement, and your company’s current business financials (if applicable). Applicants could pay as little as $100.
The best way to find out exactly how much you’ll pay for your Oklahoma surety bond is to request your free bond quote now!
Why this bond
This bond is required to ensure credit service professionals manage the services the organization has agreed to perform according to the Oklahoma Credit Services Organization Act. Illegal acts by an organization include:
- Charge or receive any money or other valuable consideration prior to full and complete performance of the services the credit services organization has agreed to perform for the buyer
- Make or counsel or advise any buyer to make any statement that is untrue or misleading
- Make or use any untrue or misleading representations in the offer or sale of the services of a credit services organization or engage
Credit service organization bond details
Credit services organization bonds are in effect for one-year and must be renewed annually unless claimed against or cancelled. The surety has the right to cancel the bond if they give 30-days’ written notice to the obligee.
Become a credit service organization
All applicants must follow the proper process to become licensed with the state of Oklahoma. Applicants must submit the following.
- $10,000 surety bond
- Notarized application
- All applicable fees
Take the first step toward becoming licensed in Oklahoma by purchasing your credit service organization surety bond quickly and easily!
Apply for your surety bond
Get a FREE Oklahoma Credit Service Organization Bond Quote Today! Click here to begin