The Monthly Payment Plan is available for bonds with premiums of $500.00 or more.
All other bonds must be paid in full. The minimum down payment is 20% of the premium.
If additional premium is collected please indicate the actual amount collected on
the Monthly Payment Plan Agreement prior to sending it to Best Choice Premium Finance
Company. Copies of the finance agreement will be available once the account is established
with the finance company. If the applicant decides they no longer wish to finance
the bond, they have 10 days to disaffirm financing at no additional cost. To do
so the applicant must submit a written request to Best Choice Premium Financing
(Fax 818.610.2066). Please note once financing is cancelled the total premium would
need to be paid in full to BTIS.
Please note: If the bond is backdated, the first payment is due 30 days from the
Effective Date. The finance company will send out a notice of cancellation if the
first installment is unpaid 30 days from the EFFECTIVE DATE of the bond. In some
cases, the first installment will need to be remitted at issuance.
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