Coin-Operated Amusement Bond

Coin-Operated Amusement bonds are required in some states for companies that are operating coin-operated machinery. Usually, the companies will have to pay fees per machine, depending on how many machines they have, to the obligee. Different states can require different bond penalties (amounts), so it is important to clarify with the obligee what bond penalty is being required.

Coin-Operated Amusement bonds guarantee that the principal will pay all applicable taxes and fees in compliance with the state’s laws, statutes, ordinances, acts, etc. These bonds protect the state from loss due to the negligence of these payments. These bonds are usually continuous, but a continuation certificate can be requested upon receipt of the renewal payment. If a certificate is requested, we will mail the original to the principal, who is expected to deliver the certificate to the obligee successfully.

Coin-Operated Amusement bonds typically have a 30-60 day cancellation provision.