Ohio Lottery Bonds
The Surety Group Agency is proud to offer you and be your online resource for Ohio Lottery Retailer bonds. Below you will see a list of the most frequently asked questions that will hopefully assist you in applying for a bond. We now have the ability for you to submit your application online as well as pay online, streamlining the process of applying for a bond. When you are ready to fill out your application, press the "
Apply Now
" button below. The Surety Group is happy to assist in any way.
Pay for your bond online!
Frequently Asked Questions:
What is a surety bond?
A surety bond is a three party agreement between the principal (the person getting the bond), the obligee (the person requiring the bond) and the surety, which guarantees the principal will comply with certain laws, regulations or abide by a contract.
In the case of an Ohio Lottery Performance bond, the bond guarantees that the Retailer will abide by the rules and regulations set forth by the Ohio Lottery Commission.
What does an Ohio Lottery Bond guarantee
An Ohio Lottery Performance Bond guarantees that the Retailer will abide by the rules and regulations set forth by the Ohio Lottery Commission.
How is the bond amount determined?
The Ohio Lottery Commission determines the bond amount.
How much does an Ohio Lottery Bond cost?
The Surety Group has developed a four tier rate structure based on the state and national average credit score. Applications will be scored based on credit score, home ownership and years in the Ohio Lottery Retail program.
Points
Citeria
50
Credit score 720 - 900
40
Credit score 680 - 719
30
Credit score 620 - 679
10
Credit score 580 - 619
20
Owner(s) owns a home
5
For each year Applicant has been an Ohio Lottery Retailer
-5
For each NTF in the last 5 years
Note: Credit score will be based on the owner or the highest credit score when there are multiple owners.
Rates are as follows:
Score
Rater Per Thousand
Program Name
90+
$7.50
Premium Retailer(low risk)
70-89
$10.00
Preferred Retailer
50-69
$15.00
Standard Retailer
<50
$20.00
Non-Standard Retailer(hight risk)
Blanket Bonds
The Surety Group will offer a Blanket Bond to cover Retailers with multiple locations. /td>
Blanket Bond Program
Number of Locations
2 or More
D & B Rating
Minimum BB in Financial strength
($200,000 - $299,000)
Commercial Credit Score
Either 1 (High) or 2 (Good)
Rate per $1,000
$7.50
What type of payment do you accept?
The Surety Group accepts the following types of payment:
Credit Card
Cashier’s Check
Personal Check
Money Order
How do I apply for the bond?
Applying for your Ohio Lottery Bond has never been so easy! You can complete and submit your application right here on our website. Simply click on the Application Link to get started.
Once you have submitted your application on-line, our underwriter will call you within 24 hours with your bond approval. Once payment has been received we will release your bond. Let us know if you need your bond sent via express mail service.
The Surety Group will also be happy to mail, fax or e-mail you an application.
My bond has been approved, what do I do next?
Once an approval has been issued, simply choose your preferred method of payment and remit payment. We accept credit cards, personal or corporate check, cashier’s check or money orders. Please complete a Credit Card Authorization form if you wish to pay with your credit card.
Your bond will be release upon receipt of payment. Please complete an Express Mail Agreement if you want your bond sent using an express mail service.
The Ohio Lottery Commission said I need to increase my bond. What do I do?
Contact The Surety Group via phone, e-mail or fax to increase your bond.
I still have questions…. Who can I contact for help?
Our Live Chat function on our website is designed for instant access to our underwriters. Or contact any of the following people for immediate assistance:
Sam Newberry: SNewberry@suretygroup.com
Shoni Trammell: Shoni@suretygroup.com
Tanya Harrelson: Tanya@suretygroup.com
Leigh Wyatt: Leigh@suretygroup.com
404-352-8211
800-486-8211
404-351-3237 Fax
Or Fill Out:
*This is not an actual application, but a form that will help us help you fill out the correct application.
Bond Amount:
Type Of Bond:
Who is requiring the bond:
Your Name:
Phone:
Email:
Fax:
Comments:
Processing Your Application......
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