Minnesota Transient Merchant Bonds
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What Is a Minnesota Transient Merchant Bond?
Minnesota transient merchant, solicitor or peddler bonds protect consumers and the state from financial harm due to unlawful business practices. Under this surety bond, transient businesses guarantee local municipalities that they will pay all taxes, interest, fees and fines.
How Much Do Transient Merchant Bonds Cost in Minnesota?
Minnesota transient merchant, solicitor or peddler bonds are available for instant purchase for just $100 annually. Or, you can save 25% each subsequent year by selecting a multi-year term on some bonds. Select the bond you need below to buy online in minutes.
How Do I Get a Transient Vendor Bond in Minnesota?
You can buy a Minnesota transient merchant bond online on SuretyBonds.com with just three steps:
- Purchase your bond online
- Receive your bond instantly via email
- File the bond with your local licensing authority
How Does a Minnesota Transient Merchant/Solicitor Bond Work?
In Minnesota, a transient merchant bond binds three parties in a legal contract:
- Principal: The merchant or vendor purchasing the bond
- Obligee: The government office requiring the bond
- Surety: The company issuing the bond
If a Minnesota vendor creates damages or financial loss, harmed parties can file a claim for compensation. The surety will pay out valid claims, then the transient vendor must refund the surety.
Who Needs a Minnesota Transient Merchant Bond?
In Minnesota, transient businesses must be bonded to operate in the following cities and counties:
- City of Saint Paul
- City of New Ulm
- Ramsey County
Visit your local business licensing office for more information on license/permit and bond requirements.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.