surety bond for sweepstakes

[pderkacz]

I need to obtain a surety bond for a sweepstakes we are administering for a major automaker. The total approximate cash value of the prizes is $49,607. How much will the bond cost and how do I go about obtaining it?

all replies appreciated.

[Unregistered]

There are 2 States that require swepstakes bonds, New York and Florida. The bond amounts are determined by the statute. The bond amount wil be the basis used for the cost for the bonds. Most large national surety companies are writing these obligations.

[Admin]

The premium rate is also based on what type of risk you are considered by the bonding company. In general they will look at owner(s) personal credit, owner(s) personal financial statement, and business financials to determine how much of a risk your company is.

You can apply at: Commercial Surety Bond Application