Illinois remittance agent bonds.
From $400.
A remittance agent takes a customer’s money for Illinois vehicle title, registration and tax filings and forwards it to the State, and 625 ILCS 5/3-903 makes it unlawful to act as one without first holding a license and posting a bond. Premiums cost 2% of the bond amount.
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How much does an Illinois remittance agent bond cost?
2% of the bond amount, from $400 at the $20,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The bond is the quick part of a remittance agent file — the affidavits and the prelicensing certificate take longer than the surety does. Here is the whole thing:
Apply online
Your business details, your county, the location the bond has to cover, the bond amount your license requires, and an effective date. No credit check up to $30,000.
Pay & e-sign
Remittance agent bonds are among the thousands of bond types that issue right after purchase. No credit check up to $30,000, and most applications approve instantly.
File with the Secretary of State
Your executed bond and power of attorney arrive by email, ready to file with your license application or renewal at Vehicle Services. Wet-ink original mailed on request.
What it is and who needs it.
What the remittance agent bond actually guarantees
Article IX of the Illinois Vehicle Code opens by saying why it exists: to protect the public from people who accept money for remittance to Illinois state agencies and then fail to forward it. That is the whole risk in one sentence. Title and registration service companies, dealer title services, currency exchanges that sell plates and stickers, and anyone else who collects a customer’s title fee, registration fee, or vehicle use tax and sends it on to the Secretary of State is a remittance agent.
The bond runs to the People of the State of Illinois and is conditioned on the proper transmittal of every remittance and the performance of all undertakings connected with it. The penal sum is the greater of $20,000 or the aggregate sum you transmitted to the State during the highest 15-day period in the preceding fiscal year, rounded to the nearest $1,000 — so the bond grows with the float you actually handle rather than sitting at a token number.
The license is a calendar-year license: it terminates on December 31 of the year it is issued, and it is renewed on an application filed between September 1 and December 31 of the preceding year. That is why the application here asks you to choose a term and then fixes the expiry on a December 31 date. The other half of the file is not the surety’s: a written application under oath naming every location where you will act, two affidavits from residents attesting to your good moral character and business reputation, and a certificate from the prelicensing education program. It is not insurance for you — if the surety pays, you reimburse the surety.
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 bond runs to December 31 whatever day you buy; the premium covers the period to that date.
Renewal falls on the statutory date, December 31, in the year your term ends.
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 Secretary of State. Your executed bond and power of attorney arrive by email, ready to file with your license application or renewal at Vehicle Services. Wet-ink original 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 $30,000. 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 instantly.
These are the actual issuing fields. No credit check up to $30,000.
Start the application →Common questions.
Other Illinois bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Get the remittance license filed.
2% of the bond amount, from $400, no credit check up to $30,000, issued the moment you pay. Free until issued.