Credit Information?

[grasshopper]

I am an attorney who is working on my first estate bond, while filing out the appropriate application for my client I saw that it is asking for credit card information. Should that be my credit information or my clients and why is it being required?

[Surety Queen]

Originally Posted by grasshopper

I am an attorney who is working on my first estate bond, while filing out the appropriate application for my client I saw that it is asking for credit card information. Should that be my credit information or my clients and why is it being required?

The credit card information should be your clients. It is to assure that future premiums will be taken care of in the event your client doesn't pay the renewals when they are due.

[h2o]

What if my client does not have a credit card and wishes to pay with a cashier's check?

[Surety Queen]

Originally Posted by h2o

What if my client does not have a credit card and wishes to pay with a cashier's check?

The initial premium can be paid by cashier's check. However, a credit card must be provided to assure Surety that they can collect renewal premiums if the Principal refuses to send a check. It doesn't necessarily have to be the client's card - but it might be hard to find someone who will provide their card for this purpose.

[h2o]

Originally Posted by Surety Queen

The initial premium can be paid by cashier's check. However, a credit card must be provided to assure Surety that they can collect renewal premiums if the Principal refuses to send a check. It doesn't necessarily have to be the client's card - but it might be hard to find someone who will provide their card for this purpose.

Is a debit/check card acceptable?