If you are engaged as a money transmission services provider in Michigan you are required under Public Act 250 of 2006 to file a Michigan Money Transmission Services Provider Bond as a condition of licensure.
Bonds Express offers a Michigan Money Transmission Services Provider Bond with a 99% approval rate.
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 Michigan Money Transmission Services Provider Bond holds you accountable for your business decisions.
By possessing a Michigan Money Transmission Services Provider Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.