Businesses that are engaged in telemarketing operations must abide by strict laws and regulations put forth by the Federal Communications Commission (FCC) and the Federal Trade Commission (FTC). Telemarketing is governed at the federal level by two statutes: the Telephone Consumer Protection Act of 1991 (TCPA) and the Telemarketing Sales Rule (TSR). The telemarketing surety bond protects the consumer and guarantees that the business engaged in providing telemarketing services is going to comply with the rules of the TCPA and TSR.
Many states require a surety bond in order to apply for a phone solicitor/telemarketing business license. The bond amounts vary anywhere from $10,000 to $100,000. If you are not sure if you are required to obtain a bond, it is best to contact your State’s Attorney General’s Office or Consumer Protection Agency.
The bond rate ranges from 1.5% to 3% of the bond amount for premium, based on approved credit. If your credit is less than perfect, we can still approve your bond at a higher rate ranging anywhere from 5% to as high as 20% of the bond amount for premium5% to as high as 20% of the bond amount for premium.