Category: Things To Know
Medicare & Medicaid Bonds — FAQ
Also known as DEMPOS bonds, CMS bonds, and DME bonds, Medicare & Medicaid Bonds are required by the Center for Medicare & Medicaid Services from businesses that bill Medicare for equipment. The purpose of the bonds is to reduce fraud in Medicare billing.
Who needs Medicare & Medicaid Bonds?
DEMPOS bonds are a requirement for businesses that bill Medicare and deal in durable medical equipment, prosthetics, orthotics, and other equipment.
Why do we need these bonds?
Medicare read more
Agricultural Bonds: Easy and Efficient Way to Avoid Unnecessary Risk
An agriculture dealer, who is engaged in buying, reselling, managing, soliciting or negotiating agricultural products, needs a license to operate his business. He is also required to hold a surety bond. An agricultural bond protects both the producers and consumers of agricultural products. It protects producers from unnecessary risk and loss in the sale of their products and ensures an adequate supply of agricultural products to the consumers within the state.
If the dealer fails to complete h read more
Importance of Mortgage Broker Bonds
Mortgage Brokers are generally the real estate financial experts who can assist their customers in finding the best possible financing terms for their particular mortgage. In order to operate a business, a mortgage broker is required to obtain a mortgage broker state license. However, the licensing requirements may differ from state to state.
In many states, to operate a mortgage business, the broker is also required to have a mortgage broker bond in order to get their mortgage broker state lic read more
Things to Know About Buying Surety Bonds Online
A surety bond is a three party agreement between a principal (business or individual), surety and obligee. It guarantees a project will be completed by fulfilling all the specific obligations or contractual terms. Essentially, it is a third party guarantee of a contract or obligation to protect the obligee from loss.
The parties involved in this contractual agreement include the Principal, Obligee and the Surety. The Surety is usually an insurance company with the responsibility to prequalify t read more