Any person or entity providing or offering to provide debt-management services to individuals residing in Rhode Island. Required when: Application for registration as a debt-management services provider under the Uniform Debt-Management Services Act. Exemptions: Exemptions include attorneys (under certain conditions),…
Overview
What it is.
Any person or entity providing or offering to provide debt-management services to individuals residing in Rhode Island. Required when: Application for registration as a debt-management services provider under the Uniform Debt-Management Services Act. Exemptions: Exemptions include attorneys (under certain conditions),…
Who usually needs it
Any person or entity providing or offering to provide debt-management services to individuals residing in Rhode Island.
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.
StateRIBond amount$50,000Term lengthContinuousObligeeRhode Island Department of Business Regulation, Division of BankingRenewalThe bond must be maintained as long as the registration is active. Renewals of the registration are handled annually through the Nationwide Multistate Licensing System (NMLS).Bond classLicense BondCategoryFinancial ServicesBondDebt Management Services Provider BondStatutory referenceR.I. Gen. Laws § 19-14.8-13JurisdictionState
