New security bond requirements

Upcoming bail requirements this year. This year we will see many more new bond requirements from a variety of creditors. The reason this will happen is because of the influx of complaints from companies defrauding the public. As businesses face closure, desperate businesses are breaking laws to stay open.

More restrictions as well as new bonuses have been on the rise. Not to mention higher bonus amounts, as well as changing bonus form languages ​​for certain bonuses. This has caused many companies to close their doors due to bonuses that were once considered a form of soft bonus to a hard to place bonus.

New bonuses and higher bonus amounts

Last month, California tried to increase the amount of the bond required for car dealers from $50,000 to $100,000; the bill was struck down, but the motion to reassess the new bill was granted.

So far this year, a $50,000 Medicaid bond has been required for DMEPOS providers. The bond is required to combat fraud by DMEPOS providers. Even providers of durable medical equipment, such as prosthetics, orthodontists must obtain the bond.

Also this year a bond of $25,000 MVD has been required for Indiana dealers. I haven’t seen a bond form yet, but I’ll keep you posted. Texas MVD bonuses have also increased from $25,000 to $50,000; The bond will remain for a two-year term. Tennessee has also followed suit by increasing bonuses for auto dealers from $25,000 to $50,000; it is also a two-year bond. There is also currently talk of increasing contractor license bonuses for California.