The Governor of the State requires the Buying Services Club Surety Bond allowing the Principal (applicant) to sell, advertise, or solicit contract or membership purchase in the state. Under O.C.G.A. Sections 10-1-590 through 10-1-605 of the Georgia Buying Services Act, purchase of clubs or services charging membership fees are regulated making cooperative buying below the retail price services or merchandise legal. An annual license, with a $50 application fee, is required for every purchase service run within the state. Such license is renewable within 90 days before its expiration date. Maintenance of a Surety Bond amounting to $25,000 is also a necessity for each business location to protect the club members. Moreover, buying services are closely monitored by the Federal Trade Commission which also enacted specific rules.
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What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.