Payday Lender and Seller of Checks Bonds are a type of surety bond required by the Wisconsin Department of Financial Institutions for those license under Chapter 217, Wisconsin Statutes. The Seller of Checks Bond ensures compliance with the provisions of Chapter 217, Wisconsin Statutes and all lawful orders, rules and regulations. The surety bond also guarantees payments to anyone having a cause of action against the principal for failure to pay any check, draft, money order, personal money order, or other instrument for the transmission of money for which the principal or his agent or agents shall have issued pursuant to the provisions of Chapter 217, Wis. Stats. Lastly, this surety bond guarantees and payment of any examination or liquidation costs incurred by the Department of Financial Institutions under the provisions of state laws.
