Virginia Money Order Sales and Money Transmitters are required under the Code of Virginia Chapter 19 of Title 6.2 to file a Virginia Money Order Sales and Money Transmitters 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 Virginia Money Order Sales and Money Transmitters Bond holds you accountable for your business decisions.
By possessing a Virginia Money Order Sales and Money Transmitters Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.