Resident Fund Surety Bond STATE OF TEXASForm 3698 September 2010 BOND NUMBER COUNTY OF EFFECTIVE DATEKNOW ALL BY THESE PRESENTSRE:Name of Legal Entity: Name of Facility: Vendor Number: Street Address:.

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How to fill out the Form 3698 online

Filling out Form 3698, the resident fund surety bond, is a crucial step for entities providing nursing facility services in Texas. This guide will walk you through each section of the form to ensure you complete it accurately and efficiently.

Follow the steps to fill out the Form 3698 online:

  1. Click ‘Get Form’ button to obtain the form and open it in the online editor.
  2. In the first section, enter the bond number, county of issuance, and effective date of the bond. Ensure that these details correspond with your records.
  3. Next, provide the legal entity's name, facility name, vendor number, street address, city, state, and ZIP code in the designated fields.
  4. Then, identify the principal by including the name of the legal entity providing Medicaid nursing facility services.
  5. After that, enter the name of the surety company, along with the state of incorporation and the fact that it is licensed to operate in Texas.
  6. Proceed to complete the obligations section using the guidelines provided, ensuring you understand each requirement for the management of resident funds.
  7. Fill in the penal sum amount, ensuring it reflects the maximum dollar amount of all resident funds to be accepted and managed as described in the form.
  8. Complete Schedule A by providing the maximum dollar amounts of resident funds for both the preceding and following year periods.
  9. Finally, review all information entered for accuracy, save the changes, and proceed to download, print, or share the completed form as needed.

Start filling out your Form 3698 online today to ensure compliance with Texas regulations.

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How much is a surety bond in Texas?

Texas Surety Bond Costs "How much will my surety bond cost?" is one of the most common questions. Bond costs are generally 1-10% of the full bond amount that's required of you in Texas. So, for example, if you need a $10,000 bond, your costs could be anywhere between $100 - $1,000.

The surety bond requires the principal to sign an indemnity agreement that pledges company and personal assets to reimburse the surety if a claim occurs. If these assets are insufficient or uncollectable, the surety pays its own money to satisfy the claim.

Getting a Texas surety bond is simple. You only need to find a reliable surety company and submit an online bonding application. Depending on the bond, it may be issued instantly following your payment.

Bottom line, if the required surety bond requires underwriting, it could potentially be done within a few business hours, but for more complicated bonds, or when sureties require additional information about your business, the process could take 1 to 2 business days.

New notaries and experienced notaries alike need to purchase a notary surety bond to ensure that their clients are protected. The cost of your surety bond is based on your state. Texas Notary Bond Rates for $10,000 is Only $50 for 4 year term.

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