Bond Amount
$10,000, $20,000, and $70,000
Requiring Entity
Airlines Reporting Corporation
Underwriting Criteria
Personal Credit Check of Business Owners
Premium Rate(s)
- $10,000 Bond -$350
- $20,000 Bond - $450
- $70,000 Bond - $1,325
Who is Required to Secure this Bond
A California Airlines Reporting Corporation Bond in the amount of $10,000, $ 20,000, or $70,000 is mandatorily required to be filed with the Airlines Reporting Corporation, as set forth in the provisions of the ARC Agent Reporting Agreement, for any person desiring to become an ARC Agent. This requirement shall remain in force as to each Agent for two years from the date of such inclusion or approval unless required to be higher as provided in the Agent Reporting Agreement. Thereafter the minimum shall be $10,000.
Bond Requirement Specifics
The Airlines Reporting Corporation Bond requirement is set forth in the provisions of the ARC Agent Reporting Agreement to any person desiring to become an ARC Agent
Who is protected Under this Bond
Any person or persons for whom the Airlines Reporting Corporation rendered services. The Airlines Reporting Corporation shall account to any person affected, in respect to business done, or transactions occurring under or by virtue of authority granted by any and all ARC
Underwriting Process
The Airlines Reporting Corporation Bond is underwritten based on a personal credit check of the business owner(s). In the event the personal credit does not meet the minimum threshold for a standard approval, the premium rate may be elevated. A signed application and a statement of experience and length of time in business will also be needed for underwriting
What you Need to do Once you have your Bond
Upon approval and payment of the bond, the original bond will be mailed to you. The original bond must be filed with the Airlines Reporting Corporation.
Obligee Link
http://www.arccorp.com/
* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.