A Massachusetts check seller bond is required from all non-bank parties that wish to engage directly in the business of selling, issuing or registering checks or money orders. There are exceptions to the Massachusetts check seller bond requirement for banks, national banking associations and savings and loan associations authorized to do business in the Commonwealth. Pursuant to law, no person can engage in check selling unless he files on or before January fifteenth in each year a sworn statement setting forth his name and address, the names and business addresses of his agents, and evidence of his Massachusetts seller of checks bond. The surety bond must be written in the amount of $100,000 to be held as security for the payment of checks or money orders sold by such person or his agents. The obligation runs to the Treasurer and Receiver General, and specifically states, “the Principal shall honor and pay upon presentation all checks, drafts or money orders sold by them or their agents within the Commonwealth of Massachusetts”.
Massachusetts surety bond leader, Surety One, Inc. is a specialist in underwriting surety bonds for the financial sector. Our underwriting solutions can provide you the surety bond that you need no matter what your financial statement or credit condition. Visit us at SuretyOne.com, call or (800) 373-2804, or email Underwriting@SuretyOne.com for a Massachusetts check seller bond application or information about any surety bond.
