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Application for Final Release of Bond for Surface North Dakota Psc Nd  Form

Application for Final Release of Bond for Surface North Dakota Psc Nd Form

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[Music] in this video we explain what north dakota deferred presentment service provider bonds are and how insurance agents can efficiently obtain them for their customers a deferred presentment service provider bond is a government required surety bond that protects the public from financial harm if the payday lender violates the bond's provisions the limit on the north dakota deferred presentment service provider bond ranges from between 20 000. to seventy five thousand dollars and is determined on a case-by-case basis the bond is required for all payday lenders operating in the state and is regulated by the north dakota department of financial institutions payday lenders are required to purchase this bond as a prerequisite to obtaining a business license the bond cost between one percent to 12.5 percent of the bond amount per year is determined based on factors such as the applicant's credit score and years of experience to avoid claims against their bond payday lend

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