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Surety Bond Pursuant to § 6.2-2003 of the Code of Virginia

Any person (agency) that provides or offers to provide debt management plans (DMPs) for consumers in Virginia. Required when: Required as a condition of obtaining and maintaining a license to provide debt management plans. Exemptions: Banks, savings institutions, credit unions, and persons licensed to practice law in …

Bond amount"The bond amount must be at least $25,000 but not more than $350,000. For exist…
State or jurisdictionVirginia
ObligeeVirginia State Corporation Commission, Bureau of Financial Institutions

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

Amounts can vary

Selected requirement: "The bond amount must be at least $25,000 but not more than $350,000. For exist…. Other available requirements: "The bond amount must be at least $25,000 but not more than $350,000. For existing licensees, the amount is equal to the licensee's average monthly volume of funds received from Virginia consumers under debt management plans during the pre…. Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

Any person (agency) that provides or offers to provide debt management plans (DMPs) for consumers in Virginia. Required when: Required as a condition of obtaining and maintaining a license to provide debt management plans. Exemptions: Banks, savings institutions, credit unions, and persons licensed to practice law in …

Who usually needs it

Any person (agency) that provides or offers to provide debt management plans (DMPs) for consumers in Virginia.

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 depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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Offering service to clients and agents alike.

Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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Surety Bond Pursuant to § 6.2-2003 of the Code of Virginia | Platinum Bonds