First and foremost, we want to extend our sincerest appreciation to all those who have served this Veterans Day. We cannot begin to thank you enough for your service.
In honor of Veterans Day, we wanted to highlight the Veterans Affairs (VA) fiduciary bond. According to the U.S. Department of Veterans Affairs, A Guide for VA Fiduciaries, “If you manage more than $25,000 in VA funds for the beneficiary, the VA will require you to guard the beneficiary’s funds by purchasing and maintaining a corporate surety bond. The bond replaces the beneficiary’s funds if you commit fraud or if you waste or misuse the beneficiary’s funds”. Thankfully, Goldleaf does have good surety markets that will write these bonds, but the terms for placement will depend on the applicant’s creditworthiness. In order for us to start a bond submission we typically need:
· Goldleaf’s Commercial Application thoroughly completed and signed – Attached is a Commercial Application for individuals. If you need an application for a company, please reach out.
· Personal Financial Statement
· A copy of the VA letter
If you have any questions regarding this bond or would like to start the bond process, please reach out to our New Business Intake Manager, Kendyl Meseck, at 320-321-6144.
