Overview of SAG-AFTRA Surety Bond Requirements
The Screen Actors Guild and the American Federation of Television and Radio Artists require this bond to secure franchised talent agencies’ compliance with their regulations. It is also intended to provide protection to SAG-AFTRA members, such as actors, journalists, dancers and others, working with such agencies.
This bond is required throughout the U.S. Certain states have a separate set of laws requiring talent agencies to get licensed and bonded. In such cases, the SAG-AFTRA bond is complementary to the state-required talent agency bond up until the full amount of this bond which is $20,000. In states in which there is no talent agency bond requirement, this bond is required of franchised talent agencies in its full amount.
If a talent agency violates the Agency Regulations of these organizations, a claim can be made against their bond to request compensation for any harms or losses sustained as a result. In such situations, the surety may extend compensation to claimants for as much as the full bond amount, also known as the penal sum of the bond.
See our detailed ‘What is a surety bond’ guide to find out more about how surety bonds work!
See below for more information regarding the cost of these bonds, and how you can get yours.
Call us anytime at (866)-450-3412 if you have any questions regarding this bond!
Cost of Your Bond
The bonding amount required by the SAG-AFTRA is $20,000. If a state has a law mandating a surety bond for talent agencies, the amount of that bond is deducted from the amount of the SAG-AFTRA bond so that the total bonding amount is $20,000.
The cost of getting bonded is a fraction of the total bonding amount. This cost is determined by the surety which issues the bond and is based on the personal credit score of the applicant, along with other financial information.
The higher an applicant’s credit score, the lower their bond rate. For example, applicants with high credit scores, around 700 FICO or above, typically get the lowest rates - between 1% and 3% of the bond amount. See the table below for a breakdown of bond cost, based on applicant credit score.
|Bond Type||Surety Bond Amount||Above 700||Between 650-699||Between 600-649||Below 599|
|SAG-AFTRA Surety Bond||$20,000||$200-$400||$300-$600||$500-$1,000||$1,000-$3,000|
To get a free quote on your bond, complete and submit the bond application form. We’ll contact you shortly with the exact rate at which you can get bonded with us!
Getting Bonded With Bad Credit
As you can see from the table above, even if you have a lower credit score, you can still easily get bonded.
Thanks to our Bad Credit Program applicants with lower scores can obtain a bond just as simply as all other applicants. Rates under this program are higher due to the greater risk that sureties assume when issuing bonds for applicants with lower credit scores. The bonds themselves are issued by the same professional companies that issue all the bonds we offer.
The exact cost of your bond under this program is determined when you apply, so visit the program page for more information and to request a free quote!
Claims Against Your Bond
Rules 16(g) and Rule 12C of the AFTRA Regulations specify the purpose of requiring agents and agencies to get bonded. They also specify what constitutes a breach of the bond agreement and may lead to a claim being filed.
The main purpose of this bond is to guarantee that any agent who has financial obligations towards an artist will make sure to take care of such obligations in due time. In cases in which agents mislead artists, act unfaithfully, dishonestly or defraud artists, a claim can be filed against their bond. In such an instance, the surety backing the bond will extend compensation to claimants for as much as the full bond amount.
In return, the bonded agent will need to repay the surety for its backing in full. For that reason, franchised talent agencies who are bonded need to make sure to always comply with the Agent Regulations in order to not give rise to a bond claim.
Get Your Bond Today!
Complete our bond application form to begin the application process. You will then receive a free quote on your bond along with all the necessary information about completing your application.
As soon as your bond is issued, which typically takes about two working days, we will forward it to you via standard mail as well as email.
Call us at (866)-450-3412 to speak to our experts and find out more about the bonding requirements for franchised talent agencies in your state!