The bond guarantees that those seeking to become licensed pursuant to the Alabama Sale of Checks Act will operate in accordance with the applicable government rules and regulations.
An Alabama sales of checks bond is a surety bond required for one seeking to become licensed to legally do business in the State of Alabama selling, issuing, or otherwise dispensing checks, or receiving money as agent for obligors for the purpose of paying such obligors’ bills, invoices, or accounts in order to ensure that they comply with all applicable rules and regulations.
All applicants for a license pursuant to the Alabama Sale of Checks Act are required to obtain a bond.
Alabama requires a $10,000 surety bond for licensed applicants pursuant to the Alabama Sale of Checks Act, plus an additional principal sum of $5,000 for each additional location, office, or agency of the applicant in the state at which the business is to be conducted. The bond shall not exceed $50,000 total.
Colonial offers the direct and digital way to obtain an Alabama Sale of Checks bond. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are simple — get a quote online, fill out your information, and enter your payment method. Print your bond from your home or office. It’s that simple!
An Alabama Sale of Checks bond is reasonably priced and easy to obtain. You may notice that with other insurance agents and middlemen companies, your premium rate will fluctuate and include additional hidden fees and costs. Colonial offers our lowest possible rate. Premium is based on the amount of the bond required by the applicable government agency.
It is important to understand how surety bonds work, and who is the insurance company issuing your bonds. It is easy to obtain an Alabama Sale of Checks bond when you deal direct with a quality insurance company licensed to write surety bonds. Colonial is an A (Excellent) rated insurance company by A.M. Best, that has been incorporated since 1930. We are Treasury listed, and licensed and admitted in all U.S. states and territories.