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Do Florida Credit Service Organizations Need a Surety Bond?

A list of credit ratings, with a check by 'excellent'

A Florida Credit Service Organization (CSO) is any person or business that sells, provides, represents or performs in return for payment services to improve a buyers credit history, record or rating, extends or credit for a buyer, or provides advice on said services. CSO's are required by the state to obtain a $10,000 surety bond and establish a trust account. The bond protects consumers from damages that may arise from the actions of the organization.

A CSO must have an approved contract that:

  • Is signed and dated by the buyer
  • Includes a statement with a cancellation clause. The statement must read "You, the buyer, may cancel this contract at any time prior to midnight of the fifth day after the date of thie transaction. See the attached notice of cancellation form for an explanation of this right". (Florida Statue 817.704(1)(a))
  • Includes terms and conditions of the payments.
  • Provide details of the services to be provided, estimated length of time for performing the services and a guarantee of full or partial refunds.
  • Includes the CSO's business address and the name of its agent to receive service of process.
  • The contract wil need to include a form in duplicate of the "Notice of Cancellation."
  • A CSO may not charge or receive money from customers prior to full and complete performance of the services promised unless they have obtained the required $10,000 surety bond. Obtain your surety bond from .

    How Much Will My Bond Cost?

    The premium that you pay for a Credit Service Organization Surety Bond is dependent on credit.

    How Do I Get a Surety Bond?

    Contact our Surety Bond Specialists today at:

    Phone: 1‑844‑432‑6637
    Fax:     404-351-3237
    Hours: 8:00-5:00 CST, Monday through Friday

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