Illinois consumer deposit bonds.
From $100.
Under the Illinois Consumer Deposit Security Act, a lessor that takes security deposits on consumer leases must either keep them in a separate account or post a $10,000 surety bond with the Attorney General guaranteeing the deposits are refunded. The price is 2% of the bond amount, $100 minimum.
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How much does an Illinois consumer deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for this bond — enter your amount, pay, and file with the Attorney General. Here is the whole thing:
Apply online
Your business details, the bond amount (the Act sets $10,000), and the effective date — that is the application.
Issued on the spot
No credit check up to $10,000.
File with the Attorney General
Submit the executed bond to the Illinois Attorney General so you can hold consumer-lease deposits without segregating them. Wet-ink originals mailed on request.
What it is and who needs it.
What the consumer deposit bond actually covers
Illinois' Consumer Deposit Security Act (815 ILCS 165) governs the security deposits a lessor collects on a consumer lease — a lease of consumer goods for more than four months with a total obligation of $25,000 or less. The Act protects the consumer's deposit so it actually comes back at the end of the lease.
A lessor that takes such deposits has two choices: hold each deposit in a separate account at a bank, trust company, or savings and loan, or post a $10,000 surety bond with the Attorney General guaranteeing the refund of the deposits. The bond is the option that frees the lessor from segregating every deposit.
The bond runs to the State for the benefit of the consumers entitled to their deposits. If a lessor fails to refund a deposit it owes, the harmed consumer can recover against the bond — and if the surety pays, the lessor repays the surety. Note: this is a consumer-goods lease bond; it is distinct from residential landlord-tenant deposit rules under 765 ILCS 710.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Attorney General. Submit the executed bond to the Illinois Attorney General so you can hold consumer-lease deposits without segregating them. Wet-ink originals mailed on request.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $10,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with your bond amount — the executed bond is generated instantly, ready to file with the Attorney General.
Start the application →Common questions.
Other Illinois bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Consumer deposit bond, issued today.
From $100. The Act sets a $10,000 bond amount, and you can file the same day.