New bond applications take effect Nov. 1.
Connecticut will be converting to Electronic Surety Bonds (ESB) on Nov. 1, 2021. Any application submitted on or after that date will be required to submit a bond through the ESB platform.
All other licensees with surety bonds will be able to transition on or after that date but will need to complete the process by March 1, 2022.
A detailed order outlining other areas of concern for licensees is expected to be released later this week.
The Nationwide Multistate Licensing System (NMLS) is offering a new ESB course available on the NMLS Resource Center for all ESB-related information and to assist in the process of converting and creating new bonds in NMLS. This e-learning tool aggregates and consolidates all the different resources and information available on the NMLS Resource Center and the Conference of State Bank Supervisors Learning Management System.
The ESB course contains recorded webinars, documentation, workflows and other valuable resources for surety companies, surety bond producers and NMLS licensees.
Please visit the ESB for licensees page on the NMLS Resource Center for more information.
If your bonds are through the ACA International Bond Unit, they will be processing the appropriate transition in the next few months. To learn more on how the ACA Bond Unit can assist you with your bond needs, please contact them at [email protected] or call (952) 926-6547.