Bond For Attorney Settlement Agent - Principal as Law Firm - CRESPA Bond
Title Insurance Agent
Overview
What it is.
Title Insurance Agent
Who usually needs it
Law firms in Virginia whose attorneys register with the Virginia State Bar to act as settlement agents in real estate transactions under CRESPA (Chapter 27.3 of Title 55 of the Code of Virginia). This $200,000 bond is a mandatory condition for registration as a settlement agent with the Virginia State Bar and protects clients from financial losses due to un…
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateVABond amount$200,000ObligeeCommonwealth of VirginiaBond classLicense BondCategoryOtherBondBond For Attorney Settlement Agent - Principal as Law Firm - CRESPA BondPlain descriptionTitle Insurance AgentWho needs this bondLaw firms in Virginia whose attorneys register with the Virginia State Bar to act as settlement agents in real estate transactions under CRESPA (Chapter 27.3 of Title 55 of the Code of Virginia). This $200,000 bond is a…
