What is a Missouri Commercial Financing Bond?
The Missouri Commissioner of Finance requires a $10,000 surety bond per the Missouri Commercial Financing Law (sections 427.300 RSMo).
The surety bond ensures that the business, its owners and employees remain in compliance with the Missouri financing laws and all provisions set out by the commissioner. If a party under a commercial financing plan is damaged due to the bonded principal's misappropriation of funds or another violation of the Missouri Commercial Financing Law a claim may be filed against the surety bond for damages sustained.
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