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How much is a $5000 surety bond in Illinois?

For applicants with good credit, surety bonds usually cost between 1% and 5% of their value. Therefore, for a surety bond of $5,000, an applicant with a strong credit history can expect to pay between $50 and $250.

What is bond remittance?

Remittance Agent Bond Information A Remittance Agent Bond is a type of surety bond required for those who accept money for remittance to the state for the payment of vehicle taxes or vehicle license or registration fees. Show More

How are surety bonds priced?

On average, the cost for a surety bond falls somewhere between 1% and 15% of the bond amount. That means you may be charged between $100 and $1,500 to buy a $10,000 bond policy. Most premium amounts are based on your application and credit health, but there are some bond policies that are written freely.

How much is a surety bond for notary in Illinois?

Your Illinois Notary Surety Bond. Illinois law requires all Notaries to purchase and maintain a $5,000 Notary surety bond for the duration of their 4-year commission. The Notary bond protects the public of Illinois against any financial loss due to improper conduct by an Illinois Notary.

What is an Illinois Financial Responsibility bond?

Illinois Financial Responsibility Bond Information The surety bond ensures that the bonded principal (i.e. taxpayer) pays to the Illinois Department of Revenue (IDOR) all monies becoming due under this law.

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