What is a South Carolina Professional Solicitor Bond?
The Public Charities Division of The State of South Carolina Office of the Secretary of State requires professional solicitors to furnish a $15,000 surety bonds. Like most license and permit surety bonds, the purpose of the bond is to protect consumers from regulatory or compliance violations.
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Why is a South Carolina Professional Solicitor Bond Required?
The bond ensures that the bonded principal complies with the provision of the South Carolina Solicitation of Charitable Fund's Act, all related rules, regulations and orders and any amendments to the Act.
The fundraising industry is unique in that many new restrictions, guidelines and laws have been enacted in recent years, creating a complex and difficult operating environment for many businesses. As a result, bond claim activity has increased due to growing confusion about what can or cannot be done within the ever-changing regulatory climate.
Unfortunately, this sometimes results in higher bond costs for industry participants. The bond experts at Surety Bond Direct are experienced in navigating these challenges in order to secure the lowest bond cost in the market for your particular situation.
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