The Maine Payroll Processor Bond is required by the Superintendent of the Bureau of Consumer Credit Protection. Anyone who applies for a Payroll Processor license in the state of Maine must have this bond.
A payroll processor is someone who provides payroll processing service for one or more employers. These services include:
The bond assures the state that the bondholder shall faithfully perform the duties and obligations pertaining to the business of a Payroll Processor. The bond amount is a$50,000 minimum, but, not to exceed $500,000. The actual amount is equal to the total of all local, state and federal tax payments and unemployment insurance premiums, in the 3-consecutive-month period of highest volume during the previous calendar year.
Here at Surety1, we can get you bonded quickly with the lowest rates. First, complete our free online application form. Next, one of our licensed agents will contact you with a no-obligation quote on the bond premium. Lastly, once you remit the premium payment and sign the necessary paperwork, your surety bond will be mailed to you. Shipping options include USPS priority mail or overnight shipping for an additional fee.
Surety1 has been writing bonds in Maine since 2003. With an A+ rating by the Better Business Bureau, you can be assured quality service for all of your surety bond needs.