Those engaged in the Sale of Checks or Electronic Transfer of Funds in Rhode Island are required under the General Laws of Rhode Island chapters 14 and 14.4 of Title 19 to file a Rhode Island Sale of Checks and Electric Money Transfer Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Rhode Island Sale of Checks and Electric Money Transfer Bond holds you accountable for your business decisions.
By possessing a Rhode Island Sale of Checks and Electric Money Transfer Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.